Kolkata MTech Student Defrauded of Rs 31.6 Lakh in Elaborate WhatsApp Investment Scam
A postgraduate student pursuing an MTech degree at the prestigious Indian Statistical Institute (ISI) in Kolkata has become the latest victim of a sophisticated cyber fraud, losing a staggering Rs 31.6 lakh to a fake stock trading platform that was promoted through WhatsApp. The Bidhannagar Cyber Crime Police Station has registered a formal complaint and initiated an investigation into this alarming case of digital deception.
Details of the Fraudulent Scheme and Financial Loss
The complainant, a resident of Rajarhat in North 24 Parganas, approached the cyber crime police on Friday, detailing how he was systematically defrauded between November 2025 and January 2026. According to the police report, the victim transferred Rs 25.3 lakh from one bank account and an additional Rs 6.3 lakh from another account to the fraudulent operators. He was lured with promises of high, risk-free returns through what was presented as legitimate stock market investments.
How the WhatsApp Scam Operated
The elaborate scam began when the student was first contacted on WhatsApp by an individual identifying herself as Kavya Godbole. This person claimed to be associated with a SEBI-registered stock market expert, lending an air of credibility to the operation. The fraudulent platform initially showed the victim what appeared to be impressive gains on his investments, building his trust and encouraging further financial commitments.
The situation escalated dramatically when the platform informed the student that he had been allotted IPO shares worth nearly Rs 2 crore. However, to secure these shares, he was told he needed to make additional payments or face substantial penalties. When the MTech student refused to transfer more funds, the operators allegedly blocked his withdrawal facility, effectively trapping his invested capital and cutting off all access.
Police Investigation and Broader Implications
The Bidhannagar Cyber Crime Police are now investigating the matter thoroughly, examining digital trails and financial transactions. This case highlights the growing sophistication of investment scams targeting educated individuals through popular messaging platforms. Authorities emphasize the importance of verifying the credentials of any financial advisor or platform, especially those making unsolicited contact through social media or messaging apps.
This incident serves as a stark reminder for all citizens to exercise extreme caution when approached with too-good-to-be-true investment opportunities, particularly those promising guaranteed high returns with minimal risk. The cyber crime unit is urging the public to report any suspicious financial solicitations immediately to prevent further victimization.
