Kanpur: A youth from Uttar Pradesh’s Kanpur was allegedly cheated of ₹15.21 lakh in an online share trading scam after cyber fraudsters lured him with promises of unusually high investment returns. According to police, the accused contacted the victim through social media, persuaded him to invest in online trading and directed him to transfer money to multiple bank accounts. The fraud came to light after the victim neither received the promised returns nor recovered his principal investment. During the investigation, police traced part of the money to a suspicious bank account allegedly linked to cyber fraud cases registered in several states.
According to police, the complainant, Arpit Gupta, a resident of Dada Nagar, lodged an FIR at Kidwai Nagar Police Station. In his complaint, he alleged that a woman identifying herself as Aditi Sharma contacted him through social media and claimed she could help him earn substantial profits through online share trading. She allegedly presented herself as an investment advisor, gained his confidence and repeatedly encouraged him to invest.
The complaint states that the accused convinced the victim to transfer money to different bank accounts by promising high returns through various investment schemes. Believing the representations, Gupta transferred a total of ₹15,21,320 to the accounts provided by the accused. After receiving neither profits nor a refund of his investment, he realised he had allegedly been defrauded and approached the police.
During the investigation, police examined banking transactions and digital evidence. Officials found that ₹4.50 lakh from the victim’s payments had been transferred to an IndusInd Bank account allegedly operated in the name of Ratan Kapoor. Preliminary findings revealed that the account had already been linked to five cybercrime complaints registered in different states.
Police further discovered that nearly ₹94 lakh in suspected fraudulent funds had been credited to the same account. Investigators believe the account may have been used to route proceeds of cybercrime. Authorities are now scrutinising its transaction history, beneficiaries and linked bank accounts to uncover the wider network behind the alleged fraud.
Investigators are also examining whether the accused used similar fake online trading schemes to target other victims. Digital evidence, banking records, mobile numbers and financial transactions are being analysed to identify the network’s modus operandi and trace its members operating across different states. The investigation is also focused on identifying the ultimate beneficiaries of the funds and any suspected mule bank accounts involved in the money trail.
According to renowned cybercrime expert and former IPS officer Prof. Triveni Singh, fraudsters involved in online trading scams frequently exploit social media platforms, messaging applications and fake investment advisers to lure victims with promises of extraordinary returns. He advised investors to verify the authenticity of trading platforms and financial service providers through official regulatory authorities before investing and never transfer money to unknown individuals or unverified bank accounts based solely on online claims.
Police said the investigation is ongoing and that the complete money trail is being examined to determine how the suspicious bank account was used in multiple cybercrime cases. Authorities have urged the public to remain cautious of investment offers received through social media, guaranteed-return schemes and links to unknown trading applications, and to immediately report any suspected cyber fraud through the National Cyber Crime Helpline 1930 or the nearest cyber police station.
