Coimbatore businessman loses of Rs 73.4 lakh to online investment scam

COIMBATORE: A 53-year-old businessman in the city lost Rs 73.4 lakh to an online investment scam that promised high returns on investments in share markets.The man, a resident of Kattoor, lodged a complaint with the Coimbatore city cyber crime police, stating that he received a WhatsApp message on his phone number during the first week of January. The person on the other end chatted with him and assured good returns from investments in share markets. As he agreed, the fraudster asked him to download a mobile application named 'ADVPMA' and said that all communications regarding the investment and profit would be through it.Believing these words, the victim transferred money to different bank accounts in 13 transactions, totalling Rs 73.4 lakh. When he attempted to withdraw the investment, he could not, the complainant stated.The cyber crime police registered a case on Monday and began investigations.