A 63-year-old businessman from Ghaziabad has been defrauded of a staggering Rs 88 lakh in a complex fake investment scheme that played out over several months on the messaging platform Telegram. The Ghaziabad police have registered a case based on the victim's complaint, highlighting the growing sophistication of online financial frauds.
The Anatomy of a Multi-Layered Scam
The victim, Aahik Kumar, a resident of Kavi Nagar, received a message on Telegram from an individual identifying himself as Aryan Kapoor. Kapoor claimed to be a senior data analyst at the well-known investment firm, Cboe. The initial contact involved simple tasks, such as movie promotion work, for which Kumar was paid, building a false sense of trust and legitimacy.
After completing these tasks, Kumar was directed to contact Pav Sethi, who was presented as the head of the financial department. Sethi sent Kumar a link and assigned him a new set of tasks, assuring him of a guaranteed withdrawal of Rs 11.1 million at each stage. The scheme escalated when, after task completion, a person named Saksha Agarwal was introduced on November 22, 2025, to handle the withdrawal.
The Trap Closes: Endless Demands for More Money
Instead of processing the withdrawal, Agarwal demanded Kumar invest Rs 7.8 lakh to complete a final task. Lured by promises of massive profits, Kumar continued to pour money into the scheme. When he grew anxious and asked for his money, two more individuals—Nishank Modi and Saanvi Malhotra—were added to the Telegram group. They justified the delays and enticed him with prospects of even larger returns.
"Surprisingly, they are still active on Telegram and are again asking for Rs 7.8 lakh to complete the trade for final withdrawal," Kumar stated. He explained that he trusted them because they claimed association with Cboe and operated from verified handles on Telegram. The scam unfolded through 27 transactions between August 27 and December 21.
The victim's realization came only after he sent an email to the real Cboe company. The firm's response confirmed his worst fears: none of the individuals involved were connected to Cboe or its subsidiaries.
A Parallel Cyber Crime in Ghaziabad
In a disturbingly similar incident reported around the same time, a 61-year-old retired government employee, Tejpal Singh, lost Rs 17.5 lakhs to cyber criminals. He was added to a WhatsApp group named ‘D Market Volatility Research Group’, where daily lectures on share market investments were shared. Between November 25 and December 7, 2025, he was persuaded to make over 20 transactions, losing his entire savings under the pretext of share trading.
Police Action and Public Advisory
Piyush Kumar Singh, ADCP (Cyber & Crime), confirmed that based on complaints from both victims, First Information Reports (FIRs) have been registered. The cases have been filed under Section 318(4) (cheating) of the Bharatiya Nyaya Sanhita (BNS) and relevant sections of the Information Technology Act.
These cases serve as a critical warning for the public:
- Verify independently: Always confirm the credentials of individuals and firms through official websites and contact channels, not through links or contacts provided by the suspect.
- Beware of guaranteed returns: Any scheme promising unusually high or guaranteed profits with minimal risk is a major red flag.
- Never share personal financial details or make payments to unknown entities for "task completion" or "fee unlocking."
- Report suspected fraud immediately to the cyber crime helpline or your local police station.
The Ghaziabad police are investigating the matter, but the incidents underscore the urgent need for heightened digital vigilance among citizens, especially those looking to invest online.
