New Delhi: A businessman from Noida has allegedly been cheated of ₹31.40 lakh in an online trading fraud after cybercriminals lured him with promises of unusually high investment returns through a fake trading platform. According to the complaint, the accused posed as representatives of a reputed trading company and persuaded the victim to invest through an online platform that closely resembled a legitimate investment website. After initially displaying fictitious profits to build confidence, the fraudsters allegedly convinced the victim to transfer substantial sums into multiple bank accounts. When he attempted to withdraw his investment and the purported profits, the suspects reportedly began making excuses before eventually cutting off all communication. Following the complaint, the Cyber Crime Police Station registered a case and launched an investigation.
According to police, the complainant, Surhit Singh, a businessman and resident of Greater Noida West, stated that unidentified cyber fraudsters contacted him between July and September 2025. The accused allegedly introduced themselves as representatives of a well-known trading company and encouraged him to register on an online investment platform designed to appear genuine. They assured him that investments made through the platform would generate exceptionally high returns within a short period.
Investigators said the fraudsters initially displayed steadily increasing profits on the platform, convincing the complainant that his investment was performing well. Believing that the profits were genuine and that he would be able to withdraw both the principal amount and returns at any time, he transferred a total of ₹31.40 lakh in multiple instalments to different bank accounts. Police said the largest portion of the money was transferred into two accounts maintained with one bank, while the remaining amount was deposited into other accounts as instructed by the accused.
According to the complaint, when the victim later attempted to withdraw his investment and the displayed profits, the accused initially cited technical issues and procedural delays. They continued seeking additional time before eventually becoming unreachable. Their mobile phones were switched off, and the online trading platform stopped responding to his requests, leading the complainant to realise that he had fallen victim to a cyber fraud. He subsequently approached the Cyber Crime Police Station and lodged a formal complaint.
Following the registration of the case, investigators began examining the beneficiary bank accounts, mobile numbers, digital payment records, and technical evidence associated with the fake trading platform. Authorities are attempting to determine whether the bank accounts used to receive the money belonged to genuine account holders or were mule accounts operated on behalf of organised cybercriminals. Investigators are also examining whether the fraud is linked to a larger cybercrime syndicate involved in similar investment scams across multiple locations.
Officials said fake online trading scams frequently involve websites that imitate the branding, logos, and interface of legitimate financial institutions or investment platforms. Fraudsters typically display fabricated profits during the initial stages to gain the victim’s confidence and encourage larger investments. Once substantial amounts have been deposited, they begin delaying withdrawals by citing verification procedures, technical problems, taxes, or processing fees before ultimately disappearing with the money.
Cybersecurity experts advise investors to independently verify the authenticity of any investment platform, regulatory registration, and official website before transferring funds. They caution against relying solely on social media advertisements, messaging applications, unsolicited calls, or online investment groups promoting guaranteed or unusually high returns. Experts further recommend conducting independent due diligence and avoiding investment decisions made under pressure or promises of quick profits. They also urge victims of suspected cyber-enabled financial fraud to immediately notify their bank and law enforcement authorities, as prompt reporting significantly improves the chances of tracing financial transactions, freezing beneficiary accounts, and recovering stolen funds while preventing further losses.
