Chandigarh Cyber Police Cracks Down on ₹14.4 Lakh Online Trading Fraud
In a significant breakthrough, the Chandigarh Cyber Crime Police has apprehended two individuals in connection with a sophisticated fake online trading scam that allegedly swindled a local resident of ₹14.4 lakh. The arrests highlight the growing threat of digital financial frauds in the region.
Details of the Arrested Accused
The police have identified the arrested accused as Vivek (32), a resident of Vikas Nagar in Mohali, and Rishab Gandhi (25), hailing from Dhakoli in Punjab. Their involvement was uncovered following a detailed investigation into the fraudulent scheme.
How the Scam Unfolded
The case originated from a complaint filed by Sunny Kumar, a resident of Manimajra in Chandigarh. According to police reports, Kumar was enticed by an advertisement on YouTube that promised high returns through an online investment scheme. After clicking on the link, he was contacted via WhatsApp and instructed to download a trading application called "ADVPMA".
This application displayed fictitious profits, creating an illusion of successful trading. Encouraged by these false gains, Kumar was persuaded to transfer money in multiple instalments. Between December 25, 2025, and January 5, 2026, he transferred a total of ₹14.40 lakh through NEFT and IMPS from his HDFC and SBI bank accounts.
The fraud came to light when Kumar attempted to withdraw his funds, only to find that the fraudsters had ceased all communication, leaving him unable to access his money.
Investigation and Evidence
During the investigation, authorities analyzed call detail records, customer application forms, and KYC documents. This scrutiny revealed that ₹1.60 lakh was transferred on January 2, 2026, to an Axis Bank account under the name of Prime Enterprises—a proprietorship linked to Vivek.
Subsequent raids were conducted in Sector 56, Chandigarh, and Peer Muchhalla in Dhakoli, leading to the arrest of both accused. The police have confirmed that the duo admitted to providing bank accounts for various cyber frauds, including:
- Investment scams
- Digital arrest frauds
- Work-from-home scams
In exchange for their services, they received commissions from the fraudsters.
Confessions and Further Investigations
Vivek reportedly confessed to handing over his bank account kit to associates for monetary gain. Meanwhile, Rishab Gandhi allegedly facilitated the arrangement of bank accounts for fraudsters operating from Delhi and Noida.
The Chandigarh Cyber Crime Police has stated that further investigation is underway, and more arrests are likely as they delve deeper into the network behind this scam.
This case serves as a stark reminder for citizens to exercise caution when engaging in online investments and to verify the authenticity of trading platforms before transferring funds.
