Ludhiana man loses ₹88 lakh in stock market scam involving fake broker

A 63-year-old man from Ludhiana lost ₹88 lakh in a stock market scam after receiving a fraudulent phone call. The caller, posing as a SEBI broker, lured him into a fake investment scheme. The victim, Naresh Kumar, was convinced to open a demat account and invest more money after being shown fake profit screenshots. He transferred a total of ₹88.1 lakh before realizing the scam. Police have registered a case against five suspects, including Gobind, Kamlesh, and Raghav. Investigators are working to locate and arrest the accused.