The Cyber Crime Wing in Puducherry has uncovered a massive ₹56 crore online investment scam that tricked thousands through fake trading platforms and fraudulent investment schemes. The racket promised high returns and lured victims via emails, social media ads, and bogus websites.
People were convinced to invest in what looked like genuine businesses, including cryptocurrency and financial services. After the money was transferred, the fraudsters disappeared, shut down websites, and cut all communication.
The cyber scam was not limited to Puducherry. Investigators traced its reach to Bengaluru, Tamil Nadu, and even international digital networks.
Cracking the Digital Trail
The investigation began after several complaints from people who lost their savings. Cyber police followed money transfers, phone records, and online ads, using advanced digital tools to piece together the scam’s network.
After weeks of tracking, police identified multiple bank accounts used to route the money. Raids were carried out, leading to the arrest of five people — two from Puducherry and others from nearby states. Several others involved are still absconding.
Luxury Cars, Fake Call Centers Seized
During the raids, authorities recovered luxury vehicles, high-end properties, fake customer support equipment, debit and credit cards, and electronic devices. The fraud operated through 64 bank accounts and is estimated to have affected over 150,000 people across the country.
The scammers even ran fake call centers, using scripted calls and international phone numbers to make their operations appear legitimate.
Initial evidence suggests the fraud started as early as 2014.
Search Continues, Awareness Drive Launched
Cyber Police are working to track the remaining suspects and recover the stolen funds. Meanwhile, cyber officials are urging the public to be cautious of online investment schemes and to avoid transferring money to unknown platforms promising quick profits.
A public awareness campaign has also been launched across local media and social platforms to help people recognize and avoid digital scams.
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