A 71-year-old retired man from Surat allegedly lost ₹1.10 crore after cyber fraudsters lured him with promises of attractive investment returns. The accused allegedly contacted him through an investment-related advertisement on Facebook and later shifted the conversation to WhatsApp.
He was then allegedly guided to use a fake application to make investments and monitor transactions. To build his confidence, the fraudsters initially allowed him to withdraw ₹5,000, after which he transferred larger amounts to multiple bank accounts.
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How Did the Fraud Begin?
Cybercrime police registered an FIR in the case on September 27. According to the complaint, the alleged fraud took place between October 30 and December 12, 2025.
The victim was contacted through multiple mobile numbers and was instructed to transfer money to different bank accounts for investment-related transactions. The fraudsters allegedly told him that the payments were part of the investment process and related transactions.
The complaint states that the victim made a total of 17 transactions, amounting to ₹1.10 crore.
The money was transferred in stages to accounts held with Bank of Maharashtra, Axis Bank, Bank of Baroda, IDFC First Bank, Punjab National Bank and IndusInd Bank. The accused allegedly allowed an initial small withdrawal to make the investment process appear genuine and strengthen the victim’s confidence.
How Was His Trust Gained?
Details recorded in the complaint show that the transfers were made between November 4 and December 12, 2025. Several transactions involved substantial amounts. The victim allegedly transferred ₹20 lakh on November 18, followed by payments of ₹7.60 lakh and ₹3.70 lakh on November 24. The largest single transaction took place on December 4, when ₹45 lakh was allegedly transferred.
The alleged modus operandi resembles a broader pattern seen in online investment fraud cases, where potential victims are initially approached through investment advertisements or messages. The conversation is then shifted to platforms such as WhatsApp, where victims are directed to use a specific application in the name of investment. The application may display supposed investments and profits, creating the impression that the money has been invested in a genuine scheme. In some cases, fraudsters allow victims to withdraw a small amount initially to increase their confidence.
How Was the Money Transferred?
In this case too, the victim was allegedly instructed to use an APK-based application to make investments and monitor transactions. Based on the information displayed on the application and claims made by the fraudsters, he began transferring money to different accounts. As the amount involved increased, the payments allegedly became larger.
After transferring the money by around December 12, the victim realised that he had allegedly been deceived. When it became clear that the investment process was not genuine and that the money could not be recovered, he approached the police. Based on his complaint, cybercrime police registered an FIR and began an investigation.
What Are Police Investigating?
Police are now collecting details of the bank accounts into which the money was transferred. Investigators are also examining the mobile numbers used to contact the victim and trying to establish links between the people operating them. The investigation will focus on tracing where the transferred funds were subsequently moved and identifying all those allegedly involved in the fraud.
The case involves a trail of 17 transactions, including the largest single payment of ₹45 lakh. Police are examining bank records, mobile numbers and digital evidence associated with the investment application to trace the alleged cybercrime network. The identification of the accused and their respective roles in the alleged fraud remain under investigation.
The420 Takeaway: Small Profits Can Be the Biggest Trap
Allowing a small withdrawal can be a deliberate tactic to build trust before fraudsters demand larger investments. Never treat an initial profit or successful withdrawal as proof that an online investment platform is genuine. Verify the platform independently before transferring more money.
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