Ahmedabad Senior Citizen Defrauded of Rs 54 Lakh in Elaborate Online Trading Scam
In a distressing case of cyber fraud, a 61-year-old retired professional from Chandhkheda, Ahmedabad, has lost his life savings of Rs 54 lakh to online scammers. The incident, which unfolded over several weeks, highlights the growing threat of sophisticated investment scams targeting vulnerable individuals, particularly seniors and retirees.
How the Scam Unfolded: From Advertisement to Financial Ruin
The victim's ordeal began on December 11, 2025, when he encountered an online advertisement on a popular video-sharing platform. The ad specifically targeted farmers and retired persons, promising exceptionally high returns through online trading and creating a false sense of urgency by claiming registration was closing soon.
After clicking the link, he was directed to a professional-looking website where he submitted extensive personal details, including his full name, residential address, mobile number, email ID, and tax identification information. This initial step set the stage for the fraudsters to launch a coordinated attack.
The Deceptive Tactics Employed by Cybercrooks
Soon after providing his details, the victim began receiving persistent calls and messages from individuals posing as managers and financial advisors of a purported investment firm. To build credibility, the scammers:
- Persuaded him to make an initial investment of Rs 21,071 through an online transfer.
- Added him to messaging groups where they shared links to trading platforms.
- Provided fabricated documents, including fake regulatory registration certificates, to appear legitimate.
- Allowed a small withdrawal of approximately Rs 906 as "profit" to gain his trust and encourage larger investments.
Between December 11, 2025, and January 20, 2026, the victim, emboldened by the initial returns, transferred increasingly larger sums. Police investigations reveal he conducted multiple transactions, sending a total of Rs 53,70,469 to various bank accounts controlled by the accused.
The Unraveling and Police Intervention
The scam came to light when the sexagenarian attempted to withdraw his accumulated investment and promised profits. The fraudsters then introduced a new hurdle, claiming the funds were held in an international bank and demanding a "declaration fee" for release.
Suspicious, the victim scrutinized the email communications and discovered they were fraudulent. Further verification confirmed the trading firm's identity had been completely misrepresented. Realizing the extent of the deception, he immediately contacted the cybercrime helpline and filed a formal complaint with the Cybercrime police on Tuesday.
In response, authorities have registered a comprehensive offence under sections related to cheating, criminal breach of trust, and impersonation. This case underscores the critical need for public vigilance, especially among older adults navigating the digital investment landscape.
Key Takeaways for the Public:
- Always verify the legitimacy of investment platforms through official regulatory bodies before transferring funds.
- Be wary of unsolicited offers promising high returns with minimal risk, particularly those targeting specific demographics like retirees.
- Never share sensitive personal or financial information in response to online advertisements or cold calls.
- Report suspicious activities promptly to cybercrime authorities to prevent further victimization.
This incident serves as a stark reminder of the evolving tactics used by cybercriminals to exploit trust and financial aspirations, urging enhanced cybersecurity awareness across all age groups.
