Kalaburagi: A retired employee of the Gulbarga Electricity Supply Company (GESCOM) has been cheated of ₹2.24 crore in a carefully orchestrated cyber fraud after being lured into a bogus high-return auto-trading investment scheme promoted through social media advertisements.
The victim, identified as Dattappa Surpur, a resident of Akkamahadevi Colony in Kalaburagi, approached the cybercrime police after realising that the online trading platform in which he had invested substantial sums was fictitious and that all communication with its operators had suddenly ceased.
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According to the complaint, the fraud began on June 11 last year when Surpur encountered an advertisement for an automated trading platform while watching short video reels on a social media application. The advertisement claimed to offer consistent daily profits through algorithm-driven trading with minimal risk — a pitch that cybercrime investigators say is increasingly being used to target retired employees and first-time investors.
After clicking on the advertisement link, Surpur entered his basic personal details. He was soon contacted by a man who introduced himself as Arun Joshi and claimed to be a senior investment consultant. Joshi told him that the opportunity was part of an exclusive auto-trading programme run by a firm named Quanta Pulse Private Ltd, which he described as specialising in low-risk, high-frequency trading.
To build trust, Surpur was advised to make a small initial investment of ₹12,000. Within a few days, he began receiving daily returns ranging from ₹500 to ₹800, which were reflected in his account. Investigators believe these early payouts were deliberately made to create an illusion of legitimacy and encourage further investments.
Buoyed by the apparent success of his first investment and reassured repeatedly by Joshi through phone calls and messaging applications, Surpur was persuaded to increase his investments in phases. He was told that higher deposits would activate “premium trading plans” offering substantially higher returns.
Over the next several months, Surpur transferred money multiple times — often in large amounts — to different bank accounts and digital wallets shared by the fraudsters. He was also shown fabricated dashboards and transaction statements displaying impressive profits, reinforcing his belief that his funds were being actively traded in financial markets.
The scam came to light when Surpur attempted to withdraw a significant portion of his purported earnings. He was informed that additional payments were required to clear “taxes”, “liquidity charges” and “account unlocking fees”. Despite making these payments, no funds were released. Shortly thereafter, all communication from the accused stopped, and access to the trading platform was blocked.
A detailed scrutiny of Surpur’s bank transactions revealed that a total of ₹2.24 crore had been siphoned off over several months. The money was routed through multiple accounts — a method commonly used in cyber fraud cases to complicate tracking and delay recovery.
A case has been registered at the Cybercrime (CEN) Police Station in Kalaburagi under relevant provisions of the Information Technology Act and the Indian Penal Code. Investigators are examining bank trails, IP addresses and digital communication records to identify the individuals and networks involved in the fraud.
Cybercrime authorities have once again urged the public, particularly senior citizens, to exercise extreme caution while responding to online investment advertisements. They warned that assurances of guaranteed returns, pressure to reinvest profits and demands for additional fees to withdraw funds are classic warning signs of digital investment scams.
Investors have been advised to verify the credentials of any online trading platform with recognised financial regulators before investing and to immediately report suspicious activity through the national cybercrime helpline or portal, which can improve the chances of tracing and recovering funds.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
