A 34-year-old physiotherapy assistant from Karond, Bhopal, fell victim to cyber fraudsters who duped him of Rs 21.74 lakh through a fake stock trading and investment scheme. The fraud was carried out via a WhatsApp group that claimed links to a reputed broking platform. Nishatpura police registered a case on Monday and initiated an investigation.
How the Scam Unfolded
According to police, the complainant, Mohammad Zakir Siddiqui, a resident of Housing Board Colony, Karond, received an invitation to join a WhatsApp group on December 29, 2025. The group administrators introduced themselves as representatives of a stock trading platform. One of them, identified as “Gaurav Seth,” was falsely portrayed as the CEO of a demat company.
False Promises of High Returns
The fraudsters assured members of guaranteed returns of 10-15% through block trading and stock market investments. They helped Siddiqui open what was projected as an advanced trading account via a link shared on the group.
Multiple Transactions
Believing the offer to be genuine, Siddiqui transferred money through 14 separate transactions between December 31, 2025, and January 27, 2026, into five different bank accounts provided by the accused. The total amount transferred was Rs 21.74 lakh.
Notional Profits and Withdrawal Block
Police said the victim was shown notional profits of nearly Rs 70 lakh on the trading platform. However, when he attempted to withdraw Rs 10 lakh on January 29, he was allegedly asked to deposit an additional Rs 20 lakh as “tax.” Suspecting fraud, he refused and later approached the cyber-crime police.
Police Action
Based on his complaint, an e-FIR was registered, and the case was transferred to Nishatpura police station. Police are tracing the bank accounts and mobile numbers used in the alleged fraud. Further investigation is underway.
