A retired professor from Bengaluru has alleged that he was cheated of more than ₹2 crore after being lured into investing through WhatsApp groups and a purported online trading platform that promised extraordinarily high returns.
Social Media Advertising Interceptions and Hyperlink Redirections
According to a complaint filed with the city cybercrime police on June 19, the victim came across a social media advertisement promoting an investment programme called the “Kanishka Scheme.” After clicking on the advertisement link, he was redirected to WhatsApp, where individuals allegedly contacted him and claimed that investments made through their platform could generate returns of up to 300 percent.
The complaint alleges that the suspects persuaded him to register on a website and subsequently added him to WhatsApp groups identified as “AR-Deposit Services ST4704 Group” and “[ANAND RATHI] VIP 1.” Through these groups, the victim was allegedly provided with investment-related instructions and encouraged to continue depositing money into the platform.
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Regulatory Representation Fabrication and Multi-Bank Cash Outflows
The complainant has alleged that the accused created the impression that the investment programme was legitimate and highly profitable. He was reportedly assured that substantial gains would be generated within a short period. Trusting these representations, he allegedly invested large sums of money over time.
The police said the complainant transferred a total of ₹2.05 crore to multiple bank accounts operated by the accused over a span of 36 days. The funds were moved across several financial entities, including Central Bank of India, Bandhan Bank, Karur Vysya Bank, Utkarsh Small Finance Bank, ICICI Bank, and Kotak Mahindra Bank.
Simulated Balances and Systemic Withdrawal Arbitrage Traps
Preliminary findings suggest that investigators suspect the trading platform may have been fraudulent and designed primarily to attract deposits from unsuspecting investors. In such schemes, victims are often shown fictitious profits, inflated account balances, and fabricated trading results to build confidence. Withdrawals are then restricted or blocked, while the operators allegedly disappear with the invested funds.
Cybersecurity experts note that online investment scams have increased significantly in recent years. Fraudsters frequently use social media advertisements, messaging applications, and professionally designed websites to impersonate financial advisers, investment professionals, or reputed financial institutions in an effort to gain the trust of potential victims.
Unrealistic Return Matrices and Unofficial Group Coordination Vectors
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh has cautioned that investment fraudsters often exploit both greed and trust by promising unrealistic returns. According to him, any scheme that guarantees unusually high profits with little or no risk should be treated as a major warning sign. He advises investors to verify the credentials of any platform, intermediary, or investment programme through official regulatory channels before transferring money.
Experts have also warned that WhatsApp and Telegram groups are increasingly being used by cybercriminals to create a false sense of legitimacy and community participation. In many cases, fabricated testimonials, manipulated trading records, and fake success stories are used to persuade victims to invest larger amounts.
Automated Communication Logging and National Helpline Integrations
Cybercrime police are now examining website records, digital evidence, bank transactions, communication logs, and the identities of individuals allegedly operating the platform. Investigators are also attempting to determine whether other investors may have been targeted through the same network.
The matter remains under investigation. Realising he had been cheated, the victim originally contacted the National Cyber Crime Helpline (1930) to freeze transaction loops. Authorities have stated that the exact circumstances surrounding the transactions will be established on the basis of evidence collected during the probe. Police have urged the public to exercise caution when responding to online investment advertisements and to avoid schemes that promise unusually high or guaranteed returns without proper verification.
