In May 2025, a Muradabad-based businessman received a WhatsApp message from an unknown number promising “fast profits” through an investment app. Initially skeptical, he was convinced to invest Rs 10,000 and soon received a small return. Encouraged, he gradually transferred larger sums across multiple accounts, ultimately losing Rs 1.65 crore.
“It started as a minor investment, and the initial profit gave me confidence,” the businessman told authorities. “But soon I realized I was trapped in something far bigger.”
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A Carefully Orchestrated Scam
Police investigations revealed the perpetrators instructed the victim to deposit money into 13 separate accounts, conducting approximately 96 transactions. Each transfer averaged over Rs 44,000. Once deposited, the money was effectively irretrievable.
Investigators found that the scammers used fake companies registered in Delhi and sophisticated technical setups to gain the victim’s trust. Initial profits were displayed to lure him deeper, while account IDs and passwords were exploited to entangle him further.
Rising Complaints After Awareness Drive
Following a cyber-awareness campaign by Muradabad Police, reporting of similar scams surged. Within a month, 27 new cases were filed, collectively accounting for over Rs 1.77 crore in losses. “People are now finding the courage to come forward,” said City Superintendent of Police Ashish Kumar. “This gang is highly organized and operates across multiple states.”
Expert Warning on Psychological Tactics
Cybercrime expert and former IPS officer Professor Triveni Singh said, “This scam highlights a new pattern where criminals weaponize the public’s desire for fast profits. High-tech trading platforms and fake apps are the tools, and once an investor is trapped, escape is nearly impossible.”
Authorities caution that most victims are middle-class investors seeking quick gains in online trading markets. Without verifying company credentials, GST numbers, and banking details, such investments can lead to devastating financial loss.