A 50-year-old engineering consultant from Noida has been allegedly cheated out of a staggering Rs 12 crore in a meticulously planned cyber fraud that originated from a message on WhatsApp. The Noida Police have registered a First Information Report (FIR) against an unidentified woman in connection with the massive financial scam.
The Lure of Guaranteed Returns
The victim, Indrapal Singh, received a message on October 17 from a person identifying herself as Kiara Sharma. The message elaborated on the lucrative benefits of investing in the share market. Singh was subsequently added to a WhatsApp group where members enthusiastically discussed trading.
"I was sent a link on the group to download an application for online trading," Singh stated in the FIR. After downloading the app, he was moved to another group. Here, other members frequently shared screenshots showcasing substantial profits, creating an illusion of a successful and legitimate investment community.
From Initial Gains to Massive Losses
The scheme initially appeared credible when Singh was able to withdraw Rs 9 lakh as profit, which police believe was a tactic to build trust. Over the next 17 days, convinced by the promise of guaranteed returns and a 15% commission, Singh made a total of nine transactions.
He transferred the enormous sum of Rs 12 crore from different accounts into the fraudulent platform. The reality of the scam became apparent when the fraudsters demanded an additional Rs 17 crore for a purported IPO investment. When Singh asked for his money back, the group only returned the initial Rs 9 lakh, leading him to realize he had been duped.
Police Investigation Underway
The Noida Police registered the FIR on Wednesday, December 4, 2025. The case has been filed under sections 318(4) (cheating) and 319(2) (cheating by personation) of the Indian Penal Code, along with relevant sections of the Information Technology Act.
Shavya Goyal, Additional Deputy Commissioner of Police, Noida, confirmed that the victim was an experienced investor. "The fraud unfolded in a period of 20 days and he believed it to be genuine as he was able to withdraw some amount," she said. The police have initiated an investigation and have requested the freezing of bank accounts linked to the transactions.
This incident serves as a stark warning against unsolicited investment advice received through social media and messaging platforms. Experts advise citizens to only use SEBI-registered platforms for trading and to thoroughly verify the authenticity of any investment opportunity.
