Bhopal businessman loses ₹47.29 lakh in online trading scam

A Bairagarh-based businessman was duped of ₹47.29 lakh by cyber fraudsters who lured him into investing through a fake online trading app. The accused had first added him to a WhatsApp group, projected it as a legitimate trading forum, and then convinced him to deposit money through the fraudulent platform.

According to the Cyber-Crime Branch, the victim, identified as Vimal Goswami, a resident of Nehru Nagar Park in Bairagarh, filed a complaint on August 8. He stated that on July 17, he was added to a WhatsApp group with over 100 members by an unknown person who introduced him to what appeared to be an online trading opportunity.

Members of the group shared a link to download a trading app, which looked genuine. Encouraged by promises of quick profits, Goswami made an initial investment of ₹15,000, followed by ₹26,000. He began receiving small returns, which helped build his trust in the platform.

Soon, the fraudsters urged him to invest larger amounts, promising to double or even triple his returns. Believing them, the businessman transferred a total of ₹47.29 lakh through NEFT and RTGS to seven different bank accounts over several days.

However, after the final transaction, the app suddenly stopped functioning, and Goswami was unable to access his account or contact the so-called traders. Realising that he had been cheated, he called the national cyber helpline number 1930 and requested authorities to freeze the recipient accounts to prevent further misuse.

The Cyber-Crime Branch has registered a case of online fraud against unidentified persons and begun tracing the bank accounts and digital footprints linked to the scam. Police officials have once again urged citizens to remain cautious of online trading offers shared through social media or WhatsApp groups, warning that many of them are operated by organized cybercrime syndicates targeting unsuspecting investors.