Lucknow: Two separate investment fraud cases have surfaced in Uttar Pradesh’s capital Lucknow, where fraudsters allegedly duped victims of a combined amount of ₹1.31 crore by promising business investment opportunities and high returns through share trading. In one case, a businessman alleged that money was withdrawn from his bank account after his financial details were obtained, while in another case, a 67-year-old man was allegedly cheated through a fake share trading platform. Police have registered cases and started investigations.
The first case was reported from Kapees Bihar Colony in the BBD area, where Rajeev Kumar Singh, owner of Jiovanta Private Limited, has alleged that he was cheated in the name of investment in his business. According to the complaint, around a month ago, a person identified as Abhishek Pandey approached him and claimed that he wanted to invest in his business and help expand his operations.
Rajeev Kumar Singh alleged that on Abhishek Pandey’s suggestion, he opened a current account at the ICICI Bank Khurramnagar branch. Later, on July 14, Abhishek allegedly took him to Delhi on the pretext of introducing him to his friend Shiva. During the visit, the accused allegedly obtained access to important banking-related information of the businessman.
According to the complaint, Abhishek allegedly collected Rajeev’s SIM card, cheque book, debit card, email ID and other banking details. However, the meeting with Shiva did not take place, following which they returned to Lucknow.
The victim alleged that on July 16, within a span of just three hours, around ₹66 lakh was withdrawn from his bank account. After discovering the alleged unauthorised transactions, Rajeev approached the police and filed a complaint against Abhishek Pandey and Shiva. Police are examining bank records, digital evidence and the alleged role of the accused persons.
The second case involves a resident of Indira Nagar, Lucknow, where 67-year-old Narendra Kumar Rao has alleged that he was cheated of ₹65 lakh in the name of share trading. He lodged a complaint with the Cyber Crime Police Station regarding the alleged fraud.
According to Narendra Kumar Rao, he received a message related to stock market investment on WhatsApp a few days ago. The senders allegedly introduced themselves as employees of ‘Rudra Shares Stock Brokers Limited’ and added him to a WhatsApp group.
The accused allegedly assured members of the group that they could earn huge profits through share trading. They reportedly convinced the victim to open a demat account on a platform controlled by them and invest money by promising high and guaranteed returns.
The victim alleged that following their instructions, he invested a total of ₹65 lakh in the demat account. After some time, the online platform showed profits, which increased his confidence in the scheme. However, when he attempted to withdraw the money, the accused allegedly blocked his account and stopped responding.
Police have started investigations into both cases. In the businessman’s case, investigators are examining financial transactions, digital evidence and the involvement of the accused persons. In the share trading fraud case, cyber police are analysing the bank accounts, mobile numbers and digital platforms allegedly used in the crime.
Officials said investment-related cyber frauds are increasing, with criminals using fake companies, fraudulent trading applications, social media groups and personal contacts to gain victims’ trust. Cyber investigators have advised people to verify investment platforms, companies and financial advisors before transferring money.
Authorities have also warned citizens not to share sensitive banking information such as OTPs, debit card details, passwords or digital access with unknown persons. Police said that early reporting of suspicious transactions can help in freezing fraudulent transfers and recovering money in cyber fraud cases.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
