PRAYAGRAJ: Cyber fraudsters allegedly cheated a youth of ₹1.08 crore by luring him with promises of fixed and unusually high investment returns, in what investigators believe is part of a cross-border cyber-enabled investment scam. The victim, who is currently based in Abu Dhabi, approached the police with a formal complaint, following which a case was registered and an investigation launched into the financial trail and the individuals involved.
Abu Dhabi-Based Victim Approaches Police
The complainant, Sudip Kumar Mishra, is a native of Mathura alias Parandih village under Tharwai police station limits in Prayagraj district. According to his complaint, in 2023 he received investment-related suggestions linked to a private firm named Bluechip Commercial Brokers. At the time, Mishra was working in Abu Dhabi and exploring options that promised better returns on his savings.
Promise of 36% Annual Returns
Mishra stated that during this period he came in contact with Abhishek Singhal, who introduced himself as a representative of Bluechip Commercial Brokers. Singhal allegedly assured him of 36% annual returns, presenting the scheme as low-risk and highly profitable. Tempted by the promise of assured gains, Mishra agreed to invest.
Funds Routed Through Multiple Accounts
Between different dates, Mishra transferred money from his own bank account as well as from the account of his wife, Roshni Mishra, to multiple bank accounts provided by the firm. In exchange, he was issued digital investment contracts and security cheques, which later turned out to be worthless.
The victim alleged that the accused projected fake profits in his name and, to maintain credibility, routed loan amounts into private accounts to create the impression of a thriving and legitimate investment operation. Mishra was repeatedly reassured that his money was safe and that substantial returns would be credited shortly.
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Firm’s ‘Owner’ Introduced, Investments Escalate
He further stated that Ravindranath Soni was introduced to him as the owner of the firm. Over a span of a few months, Mishra invested a total of 440,400 UAE dirhams, equivalent to approximately ₹1.08 crore, believing the investment to be secure.
Office Shut, Communication Cut Off
The fraud came to light when Mishra found the firm’s office suddenly shut and all communication channels—phone calls, messages, emails and digital platforms—abruptly discontinued. He later learnt that Ravindranath Soni had been arrested in an unrelated case in Kanpur and sent to jail.
Zero FIR Registered, Case Transferred
Following this, Mishra submitted a written complaint at a police station in Kanpur. A zero FIR was registered and subsequently transferred to Tharwai police station in Prayagraj, as his permanent address falls under its jurisdiction.
Investigators said the case reflects a growing pattern of cyber investment frauds targeting Indians working overseas. Agencies are now examining bank transactions, call records, emails, digital chats and account linkages to identify the full network behind the operation. Officials are also trying to ascertain whether other investors were similarly defrauded through the same setup.
FCRF Warning and Expert Insight
The Future Crime Research Foundation (FCRF) has issued a strong caution over the sharp rise in cyber-enabled investment frauds, particularly those promising “guaranteed” or abnormally high returns. Cybercrime experts associated with the foundation said claims of 25–40% fixed annual returns should immediately be treated as a red flag, as such assured profits are not possible in regulated financial markets.
According to FCRF, fraudsters are no longer limited to cold calls or simple messages. They now use digital contracts, professional-looking websites, app-based dashboards, foreign locations and multi-currency transactions to build credibility. Indians working in Gulf countries and other overseas locations are often targeted with claims that they are being offered “exclusive” investment opportunities because they are based outside India.
Experts noted that in several cases, fraudsters initially display fake profits or return a small amount to gain the victim’s trust. Once a large sum is transferred, the operators abruptly sever contact and shut down digital platforms, leaving investors with no recourse.
FCRF has advised investors to verify whether any firm offering financial products is registered with a recognised financial regulator. Digital contracts, screenshots, security cheques or online dashboards should not be considered proof of legitimacy. The foundation stressed that no genuine investment entity promises fixed or guaranteed returns, and such assurances should always be viewed with suspicion.
Anyone suspecting cyber investment fraud has been advised to immediately report the matter through the 1930 cybercrime helpline or the official cybercrime reporting portal, which can help initiate fund-freezing and enable timely investigation.
