An 88-year-old CA lost Rs 1.97 crore in a stock market scam: How was he duped? Share market fraud: Another person lost Rs 1.13 croreStock market frauds on the rise: How scamsters dupe people; know modus operandi of 'pig-butchering' scamHow to identify and protect yourself from stock market scamsTwo incidents were reported in a week of individual investors allegedly losing over Rs 3 crore in two different stock market frauds . If you want to save yourself from the scams, you must understand the modus operandi of such stock market frauds . Then, the Vasana resident was added to another WhatsApp group named “Stock Vanguard (XM-5)”, stated the FIR. The senior citizen began trading small amounts based on the tips received on the WhatsApp group and booked huge profits.