Bengaluru, September 26, 2025 — In a shocking case of cyber fraud, a 46-year-old software engineer from Horamavu lost ₹44 lakh after being lured into a fake stock trading platform. The elaborate scam began with a seemingly innocent Telegram message about a supposed medical emergency.
The victim, identified as Jayaraj (name changed), received a message on July 11 urging him to rush to a hospital as someone was in critical condition. Believing it was a misdirected message, he politely responded that he was not the right person. The sender, who introduced herself as “Reeva Chauhan,” thanked him, striking up a conversation that would eventually lead to his financial ruin.
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From Casual Chat to Financial Betrayal
What started as friendly exchanges on Telegram soon moved to WhatsApp, with frequent texts and even voice calls. Over time, “Reeva” gained Jayaraj’s confidence and began introducing the idea of investing in the stock market. She claimed to be working for a reputed stock trading firm and promised him handsome returns.
On July 31, she shared a link to a trading platform called OSL Trade and even helped Jayaraj set up an account. Encouraged to test the waters, he invested ₹50,000 initially. Within days, he received ₹4,950 credited back into his bank account, a deliberate move by fraudsters to create trust.
The Big Investments and Sudden Block
Between August 1 and September 17, Jayaraj made three hefty transactions—₹20 lakh, ₹12 lakh, and ₹12.2 lakh—transferred to bank accounts provided by the fraudsters. On the platform dashboard, he saw his supposed balance grow to ₹24 lakh, giving him false assurance.
However, when he attempted to withdraw the money, the system blocked the request, demanding more funds to unlock the transaction. Having already exhausted his savings, Jayaraj refused to send additional money. Soon after, all communication with “Reeva” stopped.
Police Investigation Underway
Realizing he had been duped, Jayaraj approached the cybercrime helpline (1930) and filed a formal complaint on September 22. The East CEN Crime Police registered a case under the Information Technology Act and Bharatiya Nyaya Sanhita (BNS) section 318 (cheating).
Police officials said efforts are on to trace the fraudsters and freeze the beneficiary accounts used in the scam. Investigators also suspect that the fake trading platform is part of a larger interstate or international cybercrime syndicate.
Rising Trend of Stock Trading Scams
Experts warn that stock market frauds using fake apps and social engineering tactics are on the rise across India. Fraudsters often build emotional connections with victims before introducing them to fraudulent investment schemes.
Cybercrime authorities have urged citizens to verify trading platforms on SEBI’s official list of registered brokers, avoid transferring large sums to unknown accounts, and immediately report suspicious online activities
