Bareilly: A school operator in Bareilly has been cheated of more than ₹49 lakh in a cyber investment fraud in which scammers allegedly used WhatsApp links, fake trading applications and fabricated profit dashboards to trap him over nearly four months. Cyber police have frozen around ₹30 lakh in suspected accounts linked to the fraud.
Fake Trading App Used To Build Trust
The victim, Alok Dubey, originally from Shahjahanpur and now living with his family at Ashish Royal Park in Bareilly, runs a private school in partnership. He told police that the fraud began on January 16, when he received a call from a man identifying himself as Ansh Kumar, who claimed to be a stock market investment expert.
FCRF’s Flagship Cyber Law Certification Returns With a New Four-Week Cohort
Soon after the call, Dubey was sent a WhatsApp link and asked to download an application named SMC Broking. He was then guided through a KYC verification process, after which an account interface was activated showing investment activity and small profits.
Police said the initial gains were used to gain the victim’s confidence. Once trust was established, the accused allegedly persuaded him to transfer larger amounts in multiple installments.
Second App Introduced After Withdrawals Blocked
When Dubey attempted to withdraw his money, he was told that his investment had been frozen until April 26. Around the same time, the first application stopped functioning.
The fraudsters then introduced another app called Star Investment, describing it as an upgraded platform. On the new interface, the victim could see his investments growing, but withdrawal options remained disabled.
The accused also demanded additional payments as commission charges and GST fees. During this period, the person identifying himself as Ansh Kumar was replaced by another individual calling himself Aman Tiwari, who allegedly assured the victim that the money would be returned within a month with interest.
Between January 26 and April 26, Dubey transferred a total of ₹49,43,898 into multiple bank accounts allegedly controlled by the fraud network.
₹30 Lakh Frozen As Probe Expands
The case came to light after Dubey filed a complaint on the cybercrime helpline 1930 and later submitted a formal report at the Bareilly cyber police station. Acting on the complaint, cyber officials traced suspicious transactions and initiated freezing procedures on linked accounts.
Officials confirmed that nearly ₹30 lakh has been frozen in suspected accounts. The remaining amount had already been moved through multiple accounts, making recovery more difficult.
Investigators said the fraudsters used fake identities, shifting communication channels, fabricated trading data and profit dashboards to sustain the illusion of a legitimate investment platform. Police are now examining the financial trail to identify the wider network involved in the scam and trace the remaining funds. Further action is expected as the investigation continues.
