Bagalkot banker loses money to online trading scam

A banker from Hungund in Bagalkot district lost nearly ₹52 lakh to fraudsters who promised to invest his money in the stock market.

The employee of a cooperative bank has complained to the police that he was drawn to the scam by an online advertisement given by Quantum AI Share Market Company. It promised higher returns than real estate and gold.

He opened an online account with the company and started communicating with a man identified as Rakesh who started giving him stock trading tips.

He transferred ₹60 lakh to various accounts and got returns of around ₹7.7 lakh on his investments.

Encouraged by this, he continued to trade and invest. However, after the returns stopped coming, he tried to contact the company through email and phone. He, however, could not contact them. All this happened in the last few months.

He has registered the complaint with the Cybercrime, Narcotics and Economic Offences Police Station in Bagalkot.