Ghaziabad | Cyber fraud cases linked to online trading and stock market investments continue to rise across the country, with fraudsters increasingly using sophisticated digital tactics to target unsuspecting investors. In a fresh case reported from Muradnagar in Ghaziabad, cybercriminals allegedly duped a businessman of ₹85.38 lakh after promising returns of up to 500 percent on stock market investments. The accused reportedly used fake SEBI licenses, forged investment documents, and a manipulated WhatsApp group to gain the victim’s trust before siphoning off huge sums of money through multiple bank accounts.
The victim, businessman Shailendra Pratap, filed a complaint at the cyber crime police station seeking action against the fraudsters. According to the complaint, on November 8 he came across an online trading advertisement linked to a YouTube channel called “Mehta Is Back.” Shortly after clicking on the advertisement, he began receiving WhatsApp messages from individuals claiming to be stock market experts and investment advisors.
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Investigators found that the accused carefully built credibility by sharing forged SEBI registration certificates, company-related documents, and alleged trading records. The victim was later added to a WhatsApp group named “Smart Trade Group,” where several members appeared to be earning huge profits from stock trading and investment schemes. Messages posted in the group regularly showcased extraordinary gains from AI-based stock trading, IPOs, FPOs, and bulk deals, creating the impression of a highly successful and legitimate investment network.
The cybercriminals later instructed the victim to download a mobile trading application through which the investments were to be made. Initially, the victim was shown small profits to strengthen his confidence in the platform. The accused even allowed him to withdraw around ₹24,000 in three separate transactions, convincing him that the trading operation was genuine and secure.
After gaining the victim’s trust, the fraudsters allegedly claimed that larger investments could generate returns of up to 500 percent within a short period. Believing the promises, the businessman transferred a total of ₹85.38 lakh between December 8 and January 14 through 15 separate transactions into different bank accounts provided by the accused. Each transfer was described as part of a “premium trading opportunity” involving exclusive market deals.
The fraud came to light when the victim later attempted to withdraw his investment and the promised profits. According to the complaint, the accused began demanding additional payments under various pretexts, including taxes, processing charges, account verification fees, and regulatory clearances. Growing suspicious, the businessman contacted the official grievance department of the company whose name had allegedly been used in the scheme.
The company reportedly informed him that it did not operate any such online investment service and that its identity and brand name were being misused by fraudsters. It was only then that the victim realised he had fallen prey to a large-scale cyber investment scam.
Renowned cyber crime expert and former IPS officer Prof. Triveni Singh said cybercriminals are now using highly organised social engineering techniques to target investors. According to him, fraudsters first establish trust through fake documents, manipulated trading dashboards, and fabricated profit screenshots before encouraging victims to invest larger amounts. He warned that claims such as “guaranteed high returns” and “multi-fold profits within days” are among the clearest warning signs of financial cyber fraud.
Cyber crime investigators are now examining the bank accounts, mobile application, transaction trails, and phone numbers linked to the case. Authorities suspect that the fraud may be connected to a larger organised cybercrime network operating through social media platforms and online investment channels.
Experts have advised citizens not to invest money based solely on social media advertisements, WhatsApp investment groups, or unsolicited trading offers. Investors have also been urged to independently verify SEBI registration details, company credentials, and the authenticity of trading platforms before making any financial transactions. In cases of suspected cyber fraud, people have been advised to immediately report the matter through the national cybercrime helpline 1930 or the official cybercrime reporting portal.
