In a stark reminder of the perils of online investment fraud, a doctor from Delhi was swindled out of a staggering Rs 22.7 lakh after being lured into a fake stock trading scheme promoted on WhatsApp. The Shahdara Cyber Police have now arrested two individuals from Haryana in connection with the sophisticated scam.
The Modus Operandi: A Web of Deceit on WhatsApp
The victim, Dr. Amita Garg, was added to a WhatsApp group named 'Stan Chart Dialogue Forum L7' in November. The group, managed by several administrators, promised expert advice on lucrative demat share investments. One admin, identifying as Yalini Guna, convinced Dr. Garg to download and invest through a mobile application called SCIIHNW.
Unaware that demat shares can only be purchased through SEBI-approved traders and that such transactions trigger official SEBI confirmation messages, the doctor proceeded. An investigating officer noted that her lack of this basic knowledge made her vulnerable.
The fraudsters initially built trust by allowing small, successful withdrawals, showing apparent profits on her investment of around Rs 2.7 lakh. Seeing these gains, Dr. Garg was persuaded to invest more heavily.
How the Trap Was Sprung
However, the scheme quickly turned sinister. Every time Dr. Garg attempted to withdraw a larger sum, she was pressured to invest even more on various pretexts. Blinded by the displayed profits and reassured by the earlier successful withdrawals, she continued transferring money until the total reached Rs 22.7 lakh.
The final blow came when her access to the application was abruptly blocked. It was at this moment she realized she had been defrauded. Dr. Garg filed an online complaint on November 13, leading to the registration of an e-FIR at the Shahdara Cyber police station under sections 318(4) and 340 of the Bharatiya Nyaya Sanhita.
Police Investigation and Arrests
Following the money trail, police traced part of the defrauded amount to a Bank of Maharashtra account held by a resident of Hisar, Haryana. Through technical analysis and call detail records, they zeroed in on two suspects.
Sameer and Dev Singh, both 22 years old, were apprehended on December 11. During interrogation, Sameer allegedly confessed to opening multiple bank accounts and providing their details to Dev Singh for a mere Rs 4,000 per account. Police recovered two mobile phones and three SIM cards from their possession. Both accused have been sent to judicial custody.
Officers described this as a common modus operandi where victims are targeted on social media and promised high stock market returns. Small initial gains are shown to build credibility before victims are coaxed into investing life-changing sums, after which the fraudsters vanish.
The investigation is ongoing to identify other members of the syndicate and trace the remaining money trails. This case highlights the critical need for public awareness regarding SEBI-approved platforms and the dangers of unsolicited investment advice on messaging apps.
