In Mohali, Punjab, a 64-year-old man became a victim of cyber fraud and lost Rs 1.5 crore after falling for a fake investment scheme that began with a random Facebook notification.
According to a common news source, the victim, identified as Rajandeep Singh, received a Facebook pop-up ad promising high returns under the names of well-known companies HDFC Securities Pvt Ltd and Upstox Pvt Ltd. Believing the offer could bring him good profits, he clicked on the ad and was soon added to a WhatsApp group named “B-7 HDFC Market Navigation.”
The fraudsters had created a professional-looking setup to trick people. They posed as senior company executives, shared forged SEBI certificates, and used fake identification documents to appear genuine. Singh was first persuaded to invest Rs 10,000. The scammers doubled this amount on a fake trading ID to gain his trust.
Encouraged by the false profits shown on the fake platform, man went on to invest larger amounts, including Rs 71.34 lakh and later Rs 34.35 lakh. Each time, the fake system displayed doubled balances, convincing the man that his money was growing. In reality, no funds were being credited, and it was only a manipulation of numbers on the fabricated IDs.
Eventually, Singh discovered that the fake accounts and trading IDs had been deleted, leaving him without any money. Sharing his experience, he said, “They first showed me double returns on Rs 10,000. That convinced me to invest more, but in the end, they vanished after taking all my money.”
Authorities confirmed that the fraud was carried out in a “highly organised manner” using false company identities and professional tools. The Cyber Crime Police has registered a case against two unidentified individuals under sections of the BNS and Section 66C of the IT Act.
Police officials also noted that “similar investment fraud cases have surfaced in recent months,” highlighting the growing threat of such scams. An investigation into the case is currently underway.
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