All Balance Disappears Before Withdrawal? Indian Man Scammed out of Rs 270,000 at Sandix Trading

Umesh, an Indian man, purportedly lost Rs. 27 lakhs in an online investment scam called Sandix Trading Pvt. Ltd.

According to the police, the man received a phone call from a stranger on May 6, who claimed to know about a highly profitable investment scheme and persuaded him to download an app that guaranteed good returns.

Umesh believed the caller and agreed to invest. The scammer sent a link to a trading platform named “Sandix Trading Pvt. Ltd”. On the instructions of the scammer, the victim made an initial deposit of Rs. 21.6 lakhs to the platform through digital payment PhonePe.

Two days later, Umesh received another call in which he was informed that he could withdraw his profits and was also asked to enter his bank account details into the trading app.

Soon after, the man's bank account was credited with Rs. 2,130 labeled as 'profit,' which deepened Umesh’s trust in Sandix.

Since then, the scammers further encouraged the victim to invest more money for more lucrative profits and even asked him to deposit US dollars. According to Umesh, he invested a total of Rs. 27 lakhs in Sandix.

However, when Umesh asked to withdraw his money for the second time, all his balance shown in the trading app was suddenly lost in just one day, with not a single penny left! When the victim called the platform's service team and asked for an explanation, they were still advising him to continue investing and trading to make up for the loss.

Doubt had set in, and the victim no longer trusted them and stopped trading. It wasn't long before he realized that the phone number and email address previously used by the scammer were all invalid! Umesh approached to the police for help.

BrokersView reminds you

Investors should be wary of investment offers from unconventional sources such as phone calls and social media platforms. In particular, you should remain vigilant when confronted with promises of guaranteed profits, or even guaranteed lucrative profits!

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