A 49-year-old surgeon working at a private hospital and residing in Bandlaguda Jagir has allegedly lost ₹2.30 crore in an online trading fraud. Cybercriminals allegedly added him to a WhatsApp group and lured him with promises of high returns through institutional investments, block trading, and IPO allocations in the Indian stock market. The fraudsters initially allowed him to withdraw ₹50,000, allegedly strengthening his confidence in the platform, before blocking his attempts to withdraw larger amounts.
How the Scam Began
According to police, the alleged fraud began in July 2025, when the victim was added to a WhatsApp group named "Grow Invest Tech Pvt Ltd.j9" by a woman identifying herself as Abhilasha Bisht. She allegedly told him the group helped people develop trading skills. A person identified as Lalit Keshre was allegedly introduced as a market analyst leading the group.
The victim was subsequently offered opportunities to invest in the Indian stock market through an alleged institutional account. The platform reportedly promoted block trading, IPO allocations, and Qualified Institutional Buyer (QIB) trading opportunities. The surgeon was asked to create a QIB account through a web-based trading platform, with members of the group allegedly assisting him with the setup, later instructing him to transfer money to multiple beneficiary bank accounts provided by purported customer support personnel.
A Convincing Illusion of Legitimacy
According to the complaint, the platform presented itself as a professional investment operation dealing in block trades, IPO allocations, institutional investments, and QIB transactions. Members of the WhatsApp group regularly posted screenshots showing substantial profits and successful withdrawals, creating the impression that investors were making significant gains through genuine stock market transactions.
The victim told police that his own trading account began displaying substantial profits too, which made him believe his investments were generating genuine returns. When he initially attempted to withdraw money, he was reportedly allowed to withdraw ₹50,000, a successful withdrawal that allegedly strengthened his confidence in the platform and encouraged him to invest even larger amounts.
The Withdrawal Trap
The situation changed when the victim later attempted to withdraw larger sums. His withdrawal requests were allegedly rejected, blocked, or repeatedly delayed. As the money remained inaccessible, he began suspecting the trading platform was fraudulent. According to his complaint, he had by then transferred a total of ₹2,30,98,146.
Filing the Complaint and What Investigators Are Doing
The victim subsequently approached Cyberabad Cyber Crime police and lodged a complaint. A case was registered and an investigation launched. Investigators are examining the bookkeeping services in India-style beneficiary bank account records into which the victim was instructed to transfer money, systematically tracing where his ₹2.30 crore ultimately went. Police are also looking into the WhatsApp group, the alleged trading platform, phone numbers used by the suspects, and the possible links between the individuals involved.
How Fake Trading Platforms Build Trust
Cybercrime expert and former IPS officer Prof. Triveni Singh said fake trading platforms often use a carefully structured trust-building process. Fraudsters may initially display artificial profits and permit small withdrawals to convince victims that the platform is genuine. Once a victim invests a substantial amount, withdrawals may be blocked and additional hurdles introduced to prevent the recovery of funds.
He advised that investors should independently verify the legitimacy and regulatory status of any trading platform before transferring money, particularly when investments are routed to multiple beneficiary accounts or unusually high returns are promised, both of which are classic warning signs that should prompt closer scrutiny before committing further funds.
FAQs
Q1. How did the fraudsters initially gain the surgeon's trust?
The victim was added to a WhatsApp group promoting institutional investments and IPO allocations, and allowed to successfully withdraw ₹50,000, which strengthened his confidence before larger withdrawals were blocked.
Q2. How much money did the surgeon ultimately lose?
He transferred a total of ₹2,30,98,146 to multiple beneficiary bank accounts before his withdrawal requests were rejected and he suspected the platform was fraudulent.
Q3. What warning signs should investors watch for in similar trading scams?
Experts advise verifying a platform's legitimacy and regulatory status before investing, especially when funds are routed to multiple beneficiary accounts or unusually high returns are promised.