online fraud — A Larnaca resident has fallen victim to an elaborate online fraud scheme, losing €50,000 to scammers posing as stockbrokers. The fraud took place between July 24 and November 10, culminating in a complaint lodged with the police on Friday.
- Upon realising he had been deceived, the victim promptly reported the incident to the police. Authorities are currently conducting investigations to trace the perpetrators and prevent further scams.
Online fraud: How the Scam Unfolded
The victim was approached by individuals who claimed to work for a US-based stock brokerage. They lured him in with promises of lucrative investments in cryptocurrency, assuring him that he could easily monitor his investments through a dedicated app.
Details of the Transactions
Over the span of several months, the man was convinced to transfer funds on seven different occasions. Between July 24 and October 27, he sent a total of €50,000 to various accounts located abroad, believing he was making wise financial decisions.
The Realisation of Deceit
It wasn’t until early November, when he attempted to withdraw what he thought were his profits, that he was confronted with an unexpected hurdle. The scammers demanded an additional fee, raising alarms and prompting him to investigate further.
Ongoing Police Investigation
Upon realising he had been deceived, the victim promptly reported the incident to the police. Authorities are currently conducting investigations to trace the perpetrators and prevent further scams.
