Retail investor attends ‘classes’ on stock market, loses Rs 56 lakh

Subramanian Muthukrishnan, a retail investor from Ramamurthy Nagar, lost Rs 56.6 lakh to cyber fraudsters after taking online classes on stock market trading offered through an Instagram advertisement. The fraudsters used cloned apps, a fake SEBI site, and guided him on an initial public offer (IPO).