A retired teacher in Jhansi has reported losing ₹96.31 lakh to suspected cyber fraudsters promising high returns from investments.
How Did the Investment Fraud Begin?
Shyam Shankar Singh, a resident of Civil Lines in Jhansi, told police that he retired from teaching in 2026. He subsequently came across a Facebook advertisement for an organisation called Cognitive Engine Group, which appeared to offer investment opportunities.
After he shared his details, a woman identifying herself as Meera Arora contacted him. She claimed to be registered with the Securities and Exchange Board of India (SEBI). Singh reportedly checked the registration number she provided online and found that it appeared valid. This convinced him to trust the investment arrangement.
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How Was the Money Transferred?
According to his complaint, Singh transferred ₹72,33,894 online into bank accounts provided by the alleged fraudsters. He was instructed to download an application and was added to a WhatsApp group. Through these platforms, he was encouraged to invest in shares and initial public offerings.
The investment arrangement appeared to offer substantial returns. However, when Singh subsequently attempted to withdraw his money, he was removed from the WhatsApp group. The complaint indicates that the investments were made through accounts and platforms whose legitimacy is now under police scrutiny.
How Did the Fake Banking Platform Operate?
Singh alleged that he was also persuaded to invest through a separate page called K-9 Axis Security between August 18 and September 19. The platform reportedly resembled the official Axis Bank website, leading him to believe that it was connected to a legitimate banking service. He transferred another ₹23,98,025 through this arrangement.
When he attempted to withdraw the funds, he was again removed from the associated group. Together, the two alleged schemes resulted in a reported loss of ₹96,31,919.
What Action Have Police Taken?
After suspecting fraud, Singh submitted a complaint through the National Cyber Crime Reporting Portal and approached the cyber police station. Acting on his complaint, police registered a preliminary report against unidentified accused persons under the supervision of Inspector Satyendra Yadav.
Investigators are now examining the movement of funds from the bank accounts used for the transactions. The case involves allegations of misleading investment promises, impersonation of financial institutions and the use of online groups to persuade a retired teacher to transfer his savings. Police are continuing their investigation to trace the money and identify those responsible.
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