What began as a routine scroll through Facebook ended in financial devastation for a 64-year-old man from Sector 71, Mohali. A seemingly innocuous investment pop-up, promising lucrative returns under the banners of reputed firms HDFC Securities Pvt. Ltd. and Upstox Pvt. Ltd., led to one of the most elaborate cyber frauds reported in recent months.
According to the complaint filed with Mohali’s Cyber Crime Police, the victim, Rajandeep Singh, first encountered the ad on June 2. A click redirected him to a WhatsApp group named “B-7 HDFC Market Navigation.” What followed was a carefully orchestrated confidence game, powered by forged SEBI certificates, fabricated trading dashboards, and individuals posing as company executives.
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Building Trust Through Small Investments
Investigators said the fraudsters employed a classic strategy to build credibility. Singh was first persuaded to invest ₹10,000. Within hours, a manipulated trading interface showed the amount doubled. The small success was enough to lure him into larger commitments.
Encouraged, Singh transferred ₹71.34 lakh in multiple transactions, followed by another ₹34.35 lakh. Each time, the scammers created new IDs that reflected doubled balances. But in reality, the money was being siphoned into accounts controlled by the fraud ring. When Singh attempted to withdraw funds, the accounts were suddenly deleted, leaving him with nothing.
Police Investigation Underway
The Cyber Crime Police have registered a case under the provisions of the Bharatiya Nyaya Sanhita and Section 66C of the Information Technology Act. Officials said the operation bore hallmarks of an organized syndicate, using professional branding, forged documents, and impersonation tactics to exploit trust.
A senior officer noted that such frauds are becoming increasingly sophisticated, blending technology with psychological manipulation. The police have issued advisories urging citizens to remain wary of online schemes promising unrealistic returns, especially those invoking the names of trusted financial firms.
This case adds to a growing list of cyber fraud incidents across India, highlighting both the vulnerabilities of social media platforms and the high stakes of unchecked digital advertising.