Cyber police in Uttar Pradesh have registered cases after two people, including a woman, allegedly lost a combined ₹54 lakh in a fraudulent stock market investment scheme. According to police, the victims were contacted through WhatsApp by individuals posing as investment advisers and were persuaded to invest through a fake trading platform promising exceptionally high returns. The allegations remain under investigation, and the accused, if identified, will be presumed innocent unless proven guilty in a court of law.
According to investigators, one complainant, Rajesh Kumar, a private-sector employee from Noida, alleged that he was contacted on WhatsApp in July 2025 by individuals identifying themselves as Ankita and Sneha Agrawal, who claimed to be investment experts. Police said the fraudsters allegedly convinced him to download an application in the name of TCS Capital Group and initially displayed profitable returns to gain his confidence. Investigators said a small amount was even returned to his bank account, encouraging him to invest larger sums.
Police said Rajesh Kumar subsequently transferred approximately ₹33 lakh in multiple instalments by August 8, 2025. When he later attempted to withdraw his investment and profits, the fraudsters allegedly demanded additional payments for taxes and processing charges and threatened to freeze his account if he refused. According to the complaint, all communication ceased after he declined to make further payments.
In a separate case, a woman from Greater Noida West alleged that she was approached through WhatsApp in June 2025 and added to a stock trading group. Police said she was persuaded to download a fake investment application and transferred nearly ₹21 lakh before June 27, 2025. When she attempted to withdraw her money, the withdrawal facility was allegedly disabled, and the suspects stopped responding.
Both victims subsequently lodged complaints through the National Cyber Crime Reporting Portal (NCRP). Police said investigators are examining bank accounts, mobile numbers, digital transaction records and other technical evidence to identify the individuals behind the alleged fraud. Authorities are also coordinating with agencies in other states to determine whether the operation is linked to a larger organised cybercrime network.
Experts associated with the Future Crime Research Foundation said fraudulent investment schemes frequently use social media platforms, messaging applications and fake trading apps to create a false impression of legitimacy. They noted that cybercriminals often display fabricated profits or permit small withdrawals initially to build trust before persuading victims to invest larger amounts. Digital forensic analysis, banking records, payment trails and communication data are crucial in tracing the movement of funds and identifying those responsible.
Legal experts emphasise that the filing of a police complaint or the allegations made during an investigation do not by themselves establish criminal liability. The prosecution must prove the charges before the court through documentary, digital and financial evidence, while any accused persons are entitled to a fair trial and the opportunity to present their defence.
Police have urged investors to verify the credentials of investment advisers and use only platforms authorised by the Securities and Exchange Board of India (SEBI). Authorities also advised the public to avoid acting on investment tips received through WhatsApp or Telegram groups and to report suspected cyber fraud immediately through the national cybercrime reporting system. The investigation is continuing, and further legal action will depend on the evidence uncovered during the inquiry.
