By Rebekah Gregoriades

Police are investigating a fresh case of web fraud worth €135,000, after a 58-year-old reported he had been conned last December.

According to the police, a company had posted on a social media platform that it would be entering the stock exchange in two or three years.

The man said he contacted the company and transferred €26,000 to a bank account abroad, followed by two more transfers of €110,350 in total to buy shares of a second company promising big profits.

The 58-year-old reported the case to the police when no profits turned up.