Kolkata Police Nab One Suspect as Investment Scams Swindle Residents of Over Rs 5 Crore
In a shocking series of events, three residents of Kolkata have been defrauded of more than Rs 5 crore in sophisticated investment scams over the past 72 hours. The Kolkata Police have confirmed the arrest of one individual in connection with these elaborate cyber frauds, which exploited fake stock trading schemes operated primarily through WhatsApp groups.
New Town Resident Loses Rs 2.1 Crore in Fake VIP Trading Scheme
The first and most substantial case involves a 63-year-old resident of a high-rise complex in Gouranganagar, New Town. According to the police complaint, the victim was initially approached in December 2025 by an unknown caller who persuaded him to join multiple exclusive "VIP" investment groups on WhatsApp. These groups promised exceptionally high returns through institutional trading, initial public offerings (IPOs), and curated stock recommendations.
The fraudulent operation instructed the complainant to open a trading account on a mobile application named "SMC-HNW" via a web link shared directly on WhatsApp. After making an initial investment of Rs 25,000, which reportedly yielded quick and substantial profits, the victim was aggressively encouraged to increase his financial commitments. Between mid-December 2025 and late January 2026, he transferred a staggering total of Rs 2.1 crore from six different bank accounts.
The scam unraveled when the New Town resident attempted to withdraw the accumulated amount displayed on the app, only to find the transaction impossible. He soon realized that all communication from the group administrators had ceased abruptly, and his access to the application and WhatsApp groups had been completely blocked.
Anandapur Incident: Fraudster Visits Victim's Office Before Disappearing with Rs 43 Lakh
In a second, particularly audacious incident reported from Anandapur, a middle-aged individual was cheated of Rs 43 lakh after being induced to invest online. This case deviated from the typical modus operandi when the main accused personally visited the complainant's office to provide detailed explanations on how to maximize investment gains. The fraudster reportedly presented elaborate "portfolios" that were guaranteed to deliver maximum returns.
The victim's realization came on February 4, 2026, when he found himself unable to withdraw not only his profits but also his basic invested capital. Subsequent attempts to contact the accused proved futile, as the fraudster had severed all communication channels and blocked the victim across platforms.
Entally Case Exposes Forged Regulatory Documents in Rs 3 Crore Scam
The third and equally distressing incident resulted in losses exceeding Rs 3 crore, prompting the registration of a formal case at the Kolkata Police Cyber Police Station. The complainant, a 56-year-old resident of a complex in Entally, was persuaded to invest in stock trading after joining a WhatsApp group created by the accused.
Investigators revealed that the victim transferred substantial funds to multiple accounts based on deliberate misrepresentations. During the subsequent probe, police discovered that Rs 22,50,000 from the cheated amount had been funneled into an account held in the name of a construction firm. More alarmingly, the investigation uncovered that the fraudsters used forged documents bearing the official names and logos of both the Securities and Exchange Board of India (SEBI) and the United States Securities and Exchange Commission (SEC) to lend artificial credibility to their scheme.
The Kolkata Police continue their investigation into these interconnected frauds, emphasizing the growing sophistication of cyber investment scams targeting urban residents. Authorities urge citizens to exercise extreme caution when approached with unsolicited investment opportunities, particularly those promoted through social media platforms and messaging applications.
