Patna: A major cyber fraud case has once again highlighted the growing threat of investment scams circulating on social media platforms. In Patna, a retired bank officer lost nearly ₹97 lakh after being lured through a Facebook advertisement promoting online trading opportunities.
The victim was gradually drawn into a fake investment ecosystem where early profits were shown to build trust before the entire life savings were siphoned off in a well-structured cybercrime operation.
According to details, the victim retired in 2024 from a senior management position in a bank. After retirement, he began exploring safe investment options online. During this period, he came across a Facebook advertisement claiming high returns through online trading. Upon clicking the ad, he was connected to fraudsters who initiated a carefully designed conversation to gain confidence.
Fake Profits, Fake CEO
Initially, the scammers presented themselves as representatives of a reputed construction company. A woman among them posed as the CEO of the company, further strengthening credibility. Continuous communication was maintained over WhatsApp, where the victim was shown fabricated profits on small initial investments to build trust.
Soon after, the victim was instructed to download a fake trading application. The platform displayed steadily increasing returns, convincing him that the investments were genuine. Starting with an initial investment of around ₹43,000, he was gradually persuaded to invest larger amounts over time as the fake profits kept appearing on the app interface.
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Withdrawal Charges Trap
The situation escalated when the victim attempted to withdraw his funds. At this stage, the fraudsters introduced multiple excuses such as taxes, commissions, and security deposits. Each withdrawal attempt triggered new payment demands, leading to repeated transfers of money. Over time, the total amount extracted reached approximately ₹97 lakh.
The scam collapsed when the victim refused to make further payments and demanded full withdrawal of his funds. Shortly after, all communication channels were abruptly cut off, and the fraudsters disappeared. It was then that the victim realized he had been trapped in a coordinated cyber fraud network.
Wider Network Under Probe
Following the complaint, authorities initiated an investigation into the case. Preliminary findings suggest the involvement of a larger inter-state cybercrime syndicate that operates fake trading platforms and uses social engineering tactics to target victims across different regions.
Cybercrime experts, including renowned cyber security specialist and former IPS officer Professor Triveni Singh, noted that such scams rely heavily on psychological manipulation. He stated that fraudsters first build trust through social engineering techniques and then gradually drain victims’ savings using fake investment platforms and staged profits. He further warned that promises of unusually high returns on digital platforms should never be trusted without verification.
He also emphasized that users should always independently verify the legitimacy of any investment platform before transferring funds and avoid being influenced by online advertisements promising quick or guaranteed profits.
Police and cyber investigation teams are currently tracing the digital footprint of the fraudsters, including bank accounts and transaction chains used to move the money. Early investigation indicates that the stolen funds were routed through multiple layers of accounts and digital wallets to conceal their origin and make recovery difficult.
Experts further highlighted that retired individuals are increasingly becoming primary targets of such scams due to their savings and lack of familiarity with modern digital fraud tactics. Authorities have reiterated that no legitimate financial institution demands repeated hidden charges or advance payments for withdrawals.
Financial and cybersecurity agencies have advised citizens to avoid reacting to emotional pressure or urgency-based tactics used by fraudsters. They stress that any investment opportunity found on social media must be independently verified through official regulatory channels before any financial commitment is made.
The investigation into the wider network behind the scam is still ongoing.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
