Noida Engineer Defrauded of Rs 18 Lakh in Elaborate Stock Market Scam
A resident engineer from Nithari in Noida fell victim to a sophisticated cyber fraud scheme, losing a staggering Rs 18 lakh to criminals who lured him with promises of extraordinary stock market returns. The fraudsters assured him of profits reaching up to 30 percent through what they described as guided investments.
The Deceptive Beginning
According to the official complaint, the engineer had shown keen interest in investing in the stock market. On December 16, 2025, he received an unsolicited call from a person identifying himself as Anil Goyal. This individual claimed extensive expertise in stock market operations and skillfully persuaded the engineer to join an exclusive investment group.
The fraudster provided a link for downloading a mobile application where the engineer was instructed to register his details. To build initial trust, the criminals asked him to make a modest investment of Rs 50,000 on that very day. Within just a couple of days, the engineer received a profit of Rs 7,500, which was promptly transferred to his bank account.
The Escalating Investments
Encouraged by this apparent success, the engineer continued investing larger sums as directed by the fraudsters. Between December 16 and January 8, he transferred a total of Rs 18 lakh through multiple transactions to various bank accounts provided by the criminals.
The application dashboard displayed a portfolio value exceeding Rs 80 lakh, creating an illusion of substantial wealth accumulation. However, when the engineer attempted to withdraw his accumulated amount, the fraudsters demanded additional payments under the guise of tax obligations and transfer charges.
The Realization and Police Action
Suspecting foul play, the engineer refused to make further payments. The criminals immediately stopped responding to his communications. The victim subsequently lodged a formal complaint on the National Cyber Crime Reporting Portal and approached the local cybercrime police station for investigation.
A Similar Case in Noida
In a parallel incident that followed an identical pattern, another Noida resident was cheated of Rs 36 lakh. On November 10, he received a call from a woman identifying herself as Vartika, who made similar promises of 30 percent returns through stock market investments.
To establish credibility, she asked him to invest Rs 50,000 in shares. He received a profit of Rs 7,500 in his bank account, which convinced him of the scheme's legitimacy. He proceeded to invest Rs 36 lakh across 11 separate transactions before realizing he had been defrauded when withdrawal attempts failed.
Police Investigation and Pattern Recognition
Investigating officers confirmed that both cases exhibited a common pattern of cyber fraud. Police efforts are currently focused on identifying the accused individuals and tracing the movement of the stolen funds through various bank accounts.
These incidents highlight the sophisticated methods employed by cyber criminals who exploit people's aspirations for financial growth through seemingly legitimate investment opportunities.
