Panchkula man cheated of Rs 4.54 lakh in stock market, crypto scam

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Panchkula, June 29

A case of alleged fraud involving ₹4.54 lakh has been registered at Sector-14 Police Station after a Panchkula resident accused three family members, including a father-son duo, of cheating him on the pretext of offering high returns through stock market and cryptocurrency investments.

The case was registered on the complaint of Sector-15 resident Varun, who alleged that the accused approached him with promises of attractive profits from investment opportunities in the stock market and cryptocurrency.

According to the complaint, the accused allegedly gained Varun’s confidence and encouraged him to invest money while assuring him of good returns. Acting on these assurances, he invested a total amount of ₹4.54 lakh.

However, when Varun later sought the return of his money, the accused allegedly failed to repay it and continued to delay payment on various grounds, the complaint stated.

The complainant further alleged that the accused had been misleading investors by promising profits through investment schemes.

Sector-14 Police have registered a case against the accused and initiated further investigation into the matter.