Chandigarh Man Loses ₹15 Lakh in Online Investment Scam
A Chandigarh resident lost over ₹15 lakh in an elaborate online investment scam that began with a Telegram message promising easy money.
Key Takeaways
- Victim lost ₹15.17 lakh after initial small profits
- Scammers used fake trading platform and demanded verification fees
- Cyber crime police investigating, culprits still at large
- Similar scam in Hyderabad cost victim over ₹1 crore
How the Scam Unfolded
Bhanu, a Sector 14 resident, received a Telegram message on June 3 from someone calling himself Prashanth Sree. The stranger offered daily returns of ₹3,000-5,000 on an initial deposit of ₹10,999 through a trading platform.
Tempted by the offer, Bhanu transferred the amount and soon received ₹15,000 as profit. Convinced the platform was genuine, he invested larger sums, especially after scammers mentioned a “special event” promising higher earnings.
Over several weeks, Bhanu deposited ₹15.17 lakh through multiple transactions.
The Trap Springs Shut
When Bhanu tried to withdraw his profits, the platform demanded an additional ₹2.44 lakh as “verification fee.” Still expecting a windfall, he paid the amount but received nothing in return. The apps and links that previously showed impressive returns turned out to be completely fake.
Realizing he had been conned, Bhanu approached the Cyber Crime police station in Sector 17. Police have registered a case and are tracking the bank accounts used in the fraud, though the culprits remain unidentified.
Growing Menace of Online Investment Scams
This incident highlights the rising threat of online investment scams in India, where fraudsters use sophisticated apps, fake dashboards, and promises of quick profits to exploit victims.
Just last month, a 47-year-old Hyderabad software engineer lost over ₹1 crore in a similar racket operating through Instagram ads and WhatsApp groups. Lured by “institutional trading secrets,” the victim kept transferring money after seeing doctored screenshots of others making massive profits. The fraudsters disappeared after shutting down their bogus app.
Expert Warnings
Cyber experts caution that these scams prey on greed and urgency. Fraudsters typically start with small payouts to build trust before pushing victims into larger investments. When withdrawal attempts are made, they demand extra fees or charges, trapping victims until they lose everything.
Authorities urge people to remain cautious, avoid unverified investment offers on social media, and immediately report suspicious activity.
