Panchkula Police have arrested a fifth accused in a cyber fraud case in which an 81-year-old retired man was allegedly cheated of ₹95.21 lakh through a fake online share-trading platform.
The latest accused, identified as Vikram alias Vicky of Kaithal, was arrested on September 29 after investigators allegedly traced ₹15 lakh from the victim’s money to his bank account.
He was produced before a court on September 30 and remanded to police custody for three days.
Police said ₹54 lakh has so far been recovered and returned to the victim. Investigators are now tracing the remaining money and examining the wider network of bank accounts allegedly used to move the funds.
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WhatsApp Message Promised High Returns From Share Trading
The case began after the Sector 6 Panchkula resident was contacted through WhatsApp with an offer promising unusually high returns from online share trading.
According to police, the victim was subsequently connected to what appeared to be an online investment platform.
He was persuaded to transfer money into different bank accounts on the understanding that the funds were being invested in shares.
The fraudsters allegedly strengthened the victim’s confidence by initially transferring small amounts described as trading profits into his account.
Once he believed the platform was genuine, he was encouraged to invest increasingly larger sums.
Police said ₹95,21,560 was eventually transferred from accounts belonging to the victim and his daughter-in-law into different bank accounts.
Fake Profits Disappeared When Victim Tried to Withdraw Money
The suspected fraud became apparent when the elderly victim tried to withdraw the money shown on the trading platform.
Instead of allowing the withdrawal, the accused allegedly demanded further payments.
Such demands are commonly used in fake investment frauds. Victims may be told that they must first pay taxes, processing charges, account-unlocking fees or other supposed expenses before their profits can be released.
The Panchkula victim became suspicious after being asked to deposit additional money and approached police.
A case was registered at the Cyber Crime Police Station in Sector 20, Panchkula, on October 8, 2025.
The investigation then shifted from the fake trading platform to the bank accounts that had received the money.
₹15 Lakh Traced to Latest Accused’s Bank Account
Police said financial analysis eventually linked ₹15 lakh of the alleged fraud proceeds to an account associated with Vikram.
His three-day custodial interrogation is now being used to establish how the money entered the account, whether it was subsequently transferred elsewhere and who may have instructed or controlled those transactions.
This aspect of the investigation is important because organised cyber fraud networks frequently use multiple bank accounts to rapidly move stolen money.
Some accounts may belong directly to suspected fraudsters, while others can be so-called mule accounts used primarily to receive and transfer money on behalf of the wider network.
Police have not yet publicly established Vikram’s precise role beyond alleging that ₹15 lakh from the victim’s money was traced to his account.
His guilt has not been established in court.
Four Accused Were Arrested Earlier
The latest arrest brings the number of people held in the case to five.
Police had previously arrested Gurdeep Singh alias Deepu Dabla and Manjeet Singh, both from Hisar; Manshvi Dhochhak of Sonepat; and Anoop Kumar of Delhi.
A chargesheet has already been filed against the four earlier accused, and proceedings against them are currently before a court.
The investigation has continued despite the filing of that chargesheet because police are still attempting to identify other individuals and accounts allegedly connected with the fraud.
Teams are conducting additional raids as investigators trace the movement of the remaining money.
₹54 Lakh Already Returned to Elderly Victim
Police Commissioner Pankaj Nain said ₹54 lakh had been recovered and returned to the complainant.
That means investigators have so far managed to restore more than half of the ₹95.21 lakh allegedly lost in the fraud.
Recovering money in cyber fraud cases often depends heavily on how quickly suspicious transactions are identified and whether banks can freeze recipient accounts before the money is withdrawn or transferred further.
The investigation in Panchkula is now focused on reconstructing the entire financial chain.
Police are examining which accounts received the victim’s money, where those funds were transferred and whether the account holders knowingly participated in the alleged fraud.
The case also follows a pattern increasingly seen in online investment scams: contact through messaging platforms, promises of unusually high returns, a professional-looking trading interface and small initial payouts designed to build trust before much larger deposits are demanded.
Once the victim attempts to withdraw the supposedly profitable investment, additional payment demands often reveal that the profits displayed on the platform were never genuine.
What this means for you
Do not trust an investment platform simply because it shows profits or allows an initial withdrawal. Verify the broker through official SEBI records, avoid investment offers received through unsolicited WhatsApp messages, and never transfer additional money just to “unlock” withdrawals from an online trading account.
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