Ahmedabad man loses ₹44 lakh in online trading scam promoted on Instagram, Telegram

Ahmedabad: A 25-year-old medical representative from Gota lost ₹44 lakh after falling victim to an elaborate online trading scam promoted through Instagram and Telegram. The victim made 296 transactions over eight months to a fake investment platform that promised high returns on foreign trading.

According to the FIR registered with the city cybercrime police, the victim came across an investment advertisement on Instagram in January. After clicking on the link and registering on the website, he was contacted by a woman identifying herself as Janvi Sharma from the company’s “marketing department.” She assured him of lucrative profits through the platform.

He was soon added to a Telegram group named Deep Win Trader, where he received daily “trading tips.” Initially, the platform showed apparent profits, prompting him to invest more money through multiple UPI and online payment channels linked to the fraudulent site. Between January and August, he invested a total of ₹67.93 lakh from his own and family members’ bank accounts.

The victim managed to withdraw ₹19.11 lakh as supposed “profits” before his account balance suddenly dropped to zero on August 29. Attempts to contact the handlers failed, as their online profiles had vanished.

Upon searching online, he discovered that several others had been duped in a similar manner through identical trading setups. He then reported the incident to the cybercrime helpline and later filed a detailed complaint with the city cybercrime police.

Investigators revealed that the scammers impersonated executives of reputed firms and used social media platforms to lure investors. They operated multiple UPI accounts to collect funds from victims. Police are now tracing the digital footprints and bank accounts linked to the scam.

Authorities have urged citizens to avoid investing through unverified apps or links shared on social media, warning that legitimate trading companies never conduct business through Instagram or Telegram groups.