A 23-year-old resident of Kalwa has fallen victim to a sophisticated cyber fraud, losing Rs 37.3 lakh after being lured by promises of high returns through a fraudulent stock trading scheme. According to police officials, the victim, who works in the private sector, was added to a WhatsApp group named 'Victory Vanguards 2 Team'. Within this group, he was introduced to a fake investment platform that posed as a professional equity advisory service.
How the Scam Unfolded
The accused, using the alias Aditya Sharma, allegedly guided the victim to invest money through a specific website over a period of nearly two months, starting in February 2026. The fraudsters employed fake profit dashboards and persistent persuasion to convince the victim that his investments were generating substantial returns. The victim's suspicion was only aroused when he attempted to withdraw his funds and found that the platform was inaccessible.
Legal Action Taken
Following the discovery, the victim lodged a complaint on the National Cyber Crime Reporting Portal. Based on this complaint, the Kalwa police registered a First Information Report (FIR) under Section 318(4) of the Bharatiya Nyaya Sanhita for cheating, along with Sections 66(C) and 66(D) of the Information Technology Act, which deal with identity theft and cheating by impersonation using computer resources.
Police officials have stated that efforts are underway to trace the accused through mobile numbers and digital transactions linked to the case. However, no arrests have been made so far. The investigation is ongoing, and authorities are working to uncover the full extent of the fraudulent operation.
Preventive Measures for Investors
This incident serves as a stark reminder of the risks associated with online investment schemes. Experts advise investors to always verify the legitimacy of any platform before committing funds. They recommend checking for registration with regulatory bodies like the Securities and Exchange Board of India (SEBI) and avoiding schemes that promise unusually high returns. Additionally, individuals should be cautious of unsolicited messages and groups on social media platforms.
The cyber fraud case highlights the need for greater awareness and vigilance among the public. The police have urged anyone who suspects fraudulent activity to report it immediately through official channels such as the National Cyber Crime Reporting Portal.
