Visakhapatnam: A man posing as a stock broker allegedly duped ₹4 crore from 19 people of Visakhapatnam on pretext of investing in share-market in exchange of hefty returns.
The victims complained that one Rahul, a resident of Jyothinagar in Vizag city and native of Jharkhand, had floated a firm named Equity Knocks at Satyam Junction in Visakhapatnam. He was also a member of the Business Network International (BNI), Vizag, and befriended people of different trades.
Rahul invited people to his office claiming that he is an expert in trading and gets good profits for his clients. Around 20 people gave ₹4 crore to Rahul for investing in trading.
Initially, Rahul gave some amounts to investors as profits. Recently, he left Visakhapatnam with his family. His mobile phones are coming switched off.
The victims approached MVP Colony police and lodged a formal complaint.
