A senior executive from Gurgaon fell victim to a massive online investment scam, losing a staggering Rs 8 crore to fraudsters posing as a legitimate stock market platform. The 54-year-old resident of Sector 47, who works for a multinational company, began his search for investment services in September last year, setting off a chain of events that would lead to immense financial loss.
The Elaborate Web of Deception
The victim was initially drawn in by an online advertisement for a company that presented itself as a "trusted investment platform." His confidence was bolstered by false claims that prominent industrialists used their services through a dedicated app. After clicking a link, he was added to the company's app group, where he mentioned his novice status in stock market investments. Posing as customer service executives, the fraudsters advised him to start with a small amount and gradually increase his investments.
Acting on this guidance, the executive began transferring funds on September 29 and continued until January 1. The fraudsters provided him with numerous bank account details via WhatsApp for the transactions. The deceptive app even displayed his deposited amounts, creating an illusion of legitimacy and preventing early suspicion.
The Unraveling of the Scam
The plot thickened when the victim received a letter from a person identifying as Srini Vishwanath, who demanded a "security amount" of Rs 1 crore with a promise of its return within two days. After transferring this sum, the executive was asked for more money under various pretexts. The situation reached a breaking point on January 5, when he contacted the company's legitimate office in Mumbai only to discover that neither his name nor any account was registered with the real firm.
Throughout the ordeal, the victim was in contact with individuals calling themselves Srini and Meenakshi Sharma, who explained the investment process. When he eventually tried to withdraw his funds, he was asked to deposit additional money for charges like "hawala fees." It was then he realized he had been cheated.
Police Investigation and Nationwide Trail
A case was subsequently registered at the Cyber East police station in Gurgaon. Police investigations revealed that the accused had orchestrated the fraud through a complex network, making the victim transfer money into 47 different bank accounts located across multiple states.
The implicated accounts were spread across:
- Karnataka and Bengaluru
- Mumbai
- Tamil Nadu
- West Bengal
- Patna
- Lucknow
- Kota
- Ghaziabad
- Nagpur
A police officer stated that efforts are currently underway to trace these bank accounts, identify the accused, and recover the cheated amount. This case highlights the sophisticated methods employed by cybercriminals who exploit the growing interest in online stock market investments.
