Bangladesh, Oct. 29 -- A 47-year-old Pune-based software engineer was allegedly cheated of Rs 2.17 crore in an online share trading fraud after cybercriminals lured him through an Instagram advertisement, added him to a WhatsApp investment group and used a fake trading application to convince him that his investments were generating substantial returns.

According to The Indian Express, the fraudsters allegedly used the identity of a financial services company based in Indore to make the investment platform appear legitimate. They also displayed a fabricated Securities and Exchange Board of India (SEBI) certificate and circulated screenshots of purported investment profits to gain the victim's confidence.

The incident came to light afte...