A 43-year-old man from Jaipur has become the latest victim of a sophisticated online trading scam, losing a staggering Rs 34 lakh to fraudsters who lured him with promises of high returns through the encrypted messaging app Telegram.
The Deceptive Promise of Quick Profits
The victim first encountered the scammers on Telegram, where they sent him links to what appeared to be lucrative investment opportunities. Assured of quick and substantial profits, the Jaipur resident began transferring money. The fraudsters used a calculated strategy, showing him manipulated dashboards and fake profit figures to build trust and encourage larger investments over time.
The Elaborate Scheme Unravels
According to the First Information Report (FIR) filed at the VKI police station on Friday, the victim transferred a total of Rs 34 lakh to various accounts linked to the unknown operators. The scam took a final twist on November 4, when the same fraudsters contacted him again. This time, they claimed he could recover his entire lost sum by depositing an additional amount.
Having already lost a fortune, the complainant grew sceptical and refused to transfer more money. He then approached the police to report the extensive financial fraud.
Police Investigation and Cybercrime Modus Operandi
Investigators confirmed that this case follows a common modus operandi used by cyber-fraud networks. "There is one way in which these scammers dupe gullible people by promising to have their small sum of money double in a short course of time through investing in what they claim to be the best unlisted companies, crypto chains, real estate projects, etc.," explained an official.
The police revealed that the scammers often initially transfer small amounts back to the victim to create an illusion of legitimacy before goading them into investing large sums for a bigger windfall.
A cyber police team has now been enlisted to assist in the investigation. The authorities will analyze the digital trail, including the Telegram chats, all payment transactions, and the bank accounts used in the fraud. Efforts are underway to track the IP addresses and identify the operators behind the counterfeit trading links, with further action promised once the suspects are traced.
