WhatsApp Groups and Fake Investment Platform Allegedly Used to Lure Victim
A retired professor from Bengaluru has alleged that he was cheated of more than ₹2.05 crore after being persuaded to invest through WhatsApp groups and a purported online trading platform promising extraordinary returns of up to 300 percent.
According to a complaint lodged with the city cybercrime police on June 19, the victim was first drawn into the scheme after clicking on a social media advertisement promoting an investment programme called the "Kanishka Scheme." The advertisement redirected him to WhatsApp, where individuals claiming to represent an investment platform allegedly assured him of exceptionally high returns.
Victim Added to WhatsApp Investment Groups
The complaint states that the victim was instructed to register on an online trading website before being added to WhatsApp groups identified as "AR-Deposit Services ST4704 Group" and "[ANAND RATHI] VIP 1."
Within these groups, the alleged fraudsters regularly shared investment advice, trading instructions, and profit updates to build confidence and encourage larger investments.
Believing the platform to be genuine, the retired professor allegedly continued investing substantial amounts over several weeks.
₹2.05 Crore Transferred Across Multiple Bank Accounts
According to investigators, the complainant transferred approximately ₹2.05 crore over a period of 36 days into multiple bank accounts allegedly controlled by the accused.
Police said the money was routed through accounts maintained with several banks, including:
- Central Bank of India
- Bandhan Bank
- Karur Vysya Bank
- Utkarsh Small Finance Bank
- ICICI Bank
- Kotak Mahindra Bank
Authorities are now tracing the financial trail to identify beneficiaries and determine how the funds were layered after being transferred.
Fake Profits and Withdrawal Restrictions Under Investigation
Preliminary findings suggest the online trading platform may have been designed solely to attract investor deposits.
Cybercrime investigators suspect victims were shown fabricated trading results, inflated account balances, and fictitious profits to create confidence in the platform.
As commonly seen in such investment scams, withdrawals were allegedly delayed or blocked while victims were encouraged to deposit additional funds. Investigators believe the operators eventually disappeared after collecting substantial investments.
Experts Warn Against Unrealistic Investment Promises
Cybersecurity experts have observed a significant increase in investment frauds promoted through social media advertisements, WhatsApp groups, Telegram channels, and professionally designed websites impersonating legitimate financial institutions.
Former IPS officer and cybercrime expert Prof. Triveni Singh cautioned that promises of unusually high or guaranteed returns should be treated as major warning signs. He advised investors to independently verify the credentials of investment platforms through official regulatory authorities before transferring money.
Experts also warn that fraudsters often create WhatsApp communities filled with fabricated testimonials, fake profit screenshots, and manipulated trading records to build credibility and pressure victims into making larger investments.
Cyber Police Examining Digital Evidence
The Bengaluru Cyber Crime Police are currently analysing:
- Website registration records
- Bank transaction trails
- Digital communication logs
- WhatsApp group activities
- Financial transfers
- Identities of individuals operating the platform
Investigators are also attempting to determine whether additional investors were targeted through the same alleged network.
The complainant initially contacted the National Cyber Crime Helpline (1930) immediately after realising he had been defrauded in an effort to freeze the transactions.
Authorities have urged citizens to exercise extreme caution when responding to online investment advertisements and to avoid schemes promising unrealistic or guaranteed returns without proper regulatory verification.
Shunyatax Global Insight
Investment frauds are increasingly evolving into highly organized cybercrime operations that combine social media advertising, messaging platforms, fake trading dashboards, and psychological manipulation to target unsuspecting investors. Experts advise verifying every investment platform through official regulatory channels, avoiding WhatsApp-based investment groups, and immediately reporting suspicious financial transactions through the National Cyber Crime Helpline (1930). Early reporting significantly improves the chances of freezing fraudulent transactions and tracing stolen funds.
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