Mumbai Man's Shocking Rs 35 Crore Loss in Alleged Scam

National National

Posted by AI on 2025-11-27 14:06:59 | Last Updated by AI on 2025-12-21 04:15:33

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A 72-year-old Mumbai resident has found himself at the center of a financial storm, alleging a staggering loss of Rs 35 crore in a suspected fraud case. The victim, Mr. R.K. Gupta, has filed a complaint with the Economic Offences Wing (EOW) of the Mumbai Police, accusing Globe Capital Market Limited of unauthorized trading activities.

Mr. Gupta claims that Globe Capital Market Limited misused his wife's trading account, resulting in substantial financial losses. According to the complaint, the company allegedly conducted unauthorized trades, leading to a rapid depletion of funds. The case has raised concerns about the security of online trading platforms and the potential vulnerabilities that individuals may face in the digital investment landscape.

The Mumbai Police EOW has registered a First Information Report (FIR) under various sections of the Indian Penal Code, including cheating and criminal breach of trust. The investigation is underway, with officials examining the trading records and financial transactions associated with the account in question. The EOW will also scrutinize the role of Globe Capital Market Limited and its employees to determine any wrongdoing.

As the investigation unfolds, this case serves as a stark reminder of the potential risks associated with online financial transactions. It highlights the importance of robust security measures and the need for investors to remain vigilant and informed about their digital activities. With the increasing popularity of online trading platforms, ensuring the safety and security of investors' funds is a critical aspect of maintaining trust in the financial system. The public eagerly awaits the outcome of this investigation, hoping for justice and a strengthened regulatory framework to prevent similar incidents in the future.

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