Lucknow Resident Defrauded of Over Rs 7 Lakh in Elaborate Online Trading Scam
In a distressing case of cyber fraud, a young man from Lucknow was swindled out of several lakh rupees by criminals who lured him with promises of substantial profits through share trading and IPO investments. The incident has prompted swift action from local law enforcement, with Gudamba police registering a First Information Report (FIR) based on the victim's detailed complaint.
How the Sophisticated Scam Unfolded
The complainant, identified as Mayank Srivastava, a resident of Shyam Enclave in Jankipuram, Lucknow, recounted the events that led to his financial loss. It began on December 8–9 when he received an unsolicited phone call from an individual who convincingly persuaded him to join a WhatsApp group focused on trading opportunities. Eager to explore potential gains, Srivastava agreed and was promptly added to the group, which was named "Steady Hain Group".
Once inside the group, the fraudsters, posing as financial experts, assisted him in opening a trading account. They initially instructed him to deposit a modest sum of Rs 5,000 to get started. The very next day, his account displayed profits, a tactic designed to build trust and confidence. Encouraged by this apparent success, Srivastava was then manipulated into transferring a total of Rs 7,12,500 in multiple instalments to various bank accounts provided by the scammers.
The Illusion of Massive Profits and Withdrawal Traps
The scheme escalated when the accused introduced IPO investments, showcasing an astonishing profit of Rs 1 crore in Srivastava's account. However, when he attempted to withdraw this amount, he was met with a shocking demand: an additional deposit of Rs 20 lakh as a mandatory condition for accessing the funds. This red flag triggered his suspicions, leading him to contact the Securities and Exchange Board of India (SEBI) for verification.
SEBI officials confirmed that he had fallen victim to a sophisticated fraud. Acting on this advice, Srivastava immediately lodged a complaint on the national cyber helpline 1930. This prompt action resulted in Rs 3.47 lakh of the transferred funds being successfully put on hold across the implicated bank accounts, mitigating some of the financial damage.
Key Details and Ongoing Police Investigation
According to the victim's statement, the WhatsApp group was allegedly administered by an individual named Kavya Godbole, while an account manager identifying himself as Raghavan Narayanan maintained consistent communication throughout the transactions. Srivastava has provided the police with comprehensive details of all bank accounts used in the fraud, which are now under scrutiny.
Gudamba police have confirmed that intensive efforts are underway to trace these bank accounts and identify the accused individuals. This case highlights the growing threat of online financial crimes and underscores the importance of vigilance when engaging in digital trading platforms. Authorities urge the public to verify the legitimacy of investment opportunities and report any suspicious activities to prevent similar incidents.
