Cyber fraudsters have allegedly duped two senior citizens, including a city-based businessman, of ₹1.12 crore by luring them into fake online trading schemes, police said on Thursday. Separate complaints have been registered at the cyber crime police station, with investigators probing links to a wider network operating through social media and encrypted messaging platforms.
According to the police, the accused befriended the victims on Facebook using fake female profiles and gradually gained their trust before pitching investment opportunities that promised unusually high returns. The fraudsters claimed the trading platforms were registered with the Securities and Exchange Board of India (SEBI) and shared screenshots of purported profits to reinforce credibility.
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One of the complainants, Sanjay Mehrotra (59), a resident of Ramgarh Colony in the Krishna Nagar area, told the police that he received friend requests in 2025 from profiles named Shweta Pandey, Avni Verma and Naina Gupta. Though unfamiliar with them, he accepted the requests and soon began chatting regularly.
During conversations, the three women claimed to be based in Bengaluru, Mumbai and Kolkata respectively, and said they earned substantial profits through online trading. They later added Mehrotra to messaging groups where investment tips were shared and screenshots showing consistent gains were posted.
Persuaded by these claims, Mehrotra agreed to invest and was sent multiple registration links for trading platforms. Over time, he transferred ₹64.62 lakh from his HDFC Bank account and ₹6.75 lakh from his ICICI Bank account in several instalments. When the trading dashboard showed profits, he attempted to withdraw the amount, but was asked to deposit additional funds on the pretext of processing charges and taxes.
“When I refused to pay more and insisted on withdrawal, the responses became evasive,” Mehrotra said in his complaint. He later realised he had been cheated of ₹71.37 lakh and approached the cyber crime police station.
In a separate but similar case, Preeti Raj (66), a resident of Vivek Khand-2, told the police that she and her husband Rajesh were targeted a few months ago by a fraudster using the name Akshara. After establishing contact through a friend request, the accused enquired about their interest in trading. Initially hesitant, the couple agreed after being shown small “trial profits”.
The fraudster first persuaded them to transfer ₹40,000, following which the account reflected a profit of around ₹6,000 by evening. Encouraged, the couple went on to invest ₹49.20 lakh across 19 transactions. When they sought to withdraw the accumulated amount, the accused demanded additional tax payments. Upon refusal, the couple was blocked on all platforms.
Police officials said that together, the two cases account for losses of nearly ₹1.12 crore.
In another incident reported the same day, Sunil Sharma, a resident of Kharagapur in Gomti Nagar Extension, said his mobile phone was hacked after he received multiple suspicious messages on December 22. Shortly afterwards, ₹1 lakh was withdrawn from his Bank of Baroda account without authorisation.
A senior police officer said investigations were underway and bank accounts used in the fraud were being traced.
“Citizens are advised to be extremely cautious of unsolicited investment offers on social media. Genuine trading platforms do not guarantee returns or ask for repeated deposits to enable withdrawals,” the officer said.
Police have urged victims of cyber fraud to immediately report incidents on the national cyber crime helpline 1930 or through the official portal to improve chances of fund recovery.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
