Two people in Panipat have allegedly been cheated of a total of ₹14.94 lakh after cyber fraudsters lured them with promises of high returns through online trading. The victims include a software engineer from Tehsil Camp-Ramesh Nagar and a property dealer from the Kila area. Cyber police have registered cases based on their complaints and started an investigation. Police are examining the bank accounts used for the transactions and digital channels allegedly linked to the fraud.
Property Dealer Loses ₹12.40 Lakh
The property dealer from the Kila area told police that he was contacted through a WhatsApp call in July 2026. A woman allegedly promised him high profits through online trading and persuaded him to invest money. He was subsequently asked to transfer funds to different bank accounts. The victim transferred a total of ₹12.40 lakh to accounts associated with names including Thakur Enterprises, Zoom Builders and Patel Traders.
After the money was deposited, the victim was shown details of a trading account on a website. The website displayed a balance of $24,386, equivalent to around ₹23.16 lakh. This led him to believe that his investment had generated substantial profits. When he attempted to withdraw the amount, he was allegedly asked to pay another ₹5 lakh in the name of converting the dollars into Indian currency and completing the withdrawal process.
According to the complaint, when the victim refused to pay the additional amount, the alleged fraudsters threatened that his entire balance would be lost. He then suspected that he had been cheated and did not transfer any further money. He approached the cyber police, who are now examining the accounts and digital channels through which the money was transferred.
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Engineer Trapped Through Telegram Channel
In the second case, the software engineer from Tehsil Camp-Ramesh Nagar told police that he came across an advertisement related to trading on social media on August 14. Through the advertisement, he joined a trading channel on Telegram. The channel allegedly claimed that users could earn profits through trading after a 20% commission was deducted.
According to the complaint, people associated with the channel asked him to make payments at different stages to begin investing. He was allegedly asked to deposit money in the name of minimum investment, GST and currency exchange charges. The victim made payments through different bank accounts as well as credit cards. In total, ₹2,54,104 was deposited.
When the software engineer tried to withdraw his investment and the alleged profits, he could not find a way to access the money. He subsequently realised that he might have been defrauded and approached the police. Investigators are now trying to establish where the money was transferred and who was operating the accounts involved in the transactions.
Fake Profits Used to Push More Payments
Both cases show a similar pattern allegedly used in online trading fraud. Victims are first attracted with promises of quick and high returns and are then asked to make additional payments under various pretexts, including taxes, fees or currency conversion charges. In such cases, fraudulent websites or digital platforms may be used to display inflated profits and create a false impression that the investment is growing.
Police Trace Accounts and Digital Evidence
The cyber police are examining the transaction trail and digital evidence in both cases. Authorities have advised people to independently verify the authenticity of online trading platforms and investment opportunities before transferring money. Investors should also be cautious about requests for additional payments before withdrawals, particularly when such demands are made through messaging applications or unofficial trading channels.
The420 Insight
Promises of unusually high trading returns followed by demands for taxes, conversion fees or other payments before withdrawals are major warning signs. Investors should verify trading platforms independently and avoid transferring additional money solely to unlock supposed profits displayed online.
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