Cyber Police in Maharashtra’s Palghar district have frozen ₹38.21 lakh out of the ₹48.53 lakh allegedly lost by a 70-year-old retired bank employee in an online investment fraud involving a fake “Quantum AI Platform”. Authorities have begun the process to return the recovered amount to the victim after obtaining the required court approval.
According to the preliminary investigation, the victim came across a promotional video on Facebook in May 2026 advertising the so-called Quantum AI Platform. The advertisement allegedly promised exceptionally high investment returns and claimed that the opportunity was available only to a limited number of investors.
Fake Platform Used to Gain Trust
The advertisement instructed viewers to complete a Google Form and make an initial payment to activate their account. It also featured fabricated testimonials of investors allegedly earning large daily profits.
After submitting the form, the victim was contacted through WhatsApp and asked to deposit ₹20,893 as processing charges. He was then given access to an online portal where he was shown a small initial profit.
Investigators believe the fraudsters allowed the victim to withdraw the initial profit to gain his confidence. This allegedly encouraged him to invest larger sums in subsequent transactions.
Funds Traced Through Banking Trail
The retired banker allegedly transferred more than ₹48.53 lakh over multiple transactions under different pretexts, including processing charges, additional investment requirements and other fees.
When the promised returns did not materialise and communication with the fraudsters stopped, the victim approached the local police. The case was then referred for cyber investigation.
After receiving the complaint, investigators registered the matter on the National Cyber Crime Reporting Portal and coordinated with nodal officers of the banks where the funds had been transferred. Through technical analysis, banking trail examination and prompt intervention, authorities froze ₹38,21,974 in suspected accounts.
Recovery Process and Probe Continue
Officials said the frozen amount will be returned to the complainant after completion of legal formalities and court approval.
A case has been registered under relevant provisions of the Bharatiya Nyaya Sanhita and the Information Technology Act. Investigators are examining banking records, digital payment channels, mobile numbers and other electronic evidence to identify the final beneficiaries of the alleged fraud.
Cybercrime expert and former IPS officer Prof. Triveni Singh said investment fraud syndicates increasingly use social media advertisements, fake investment platforms, WhatsApp communication and manipulated online dashboards to gain victims’ trust. Authorities are continuing efforts to identify other accused persons, financial beneficiaries and the digital infrastructure allegedly used in the scam.
