Nagpur man loses over ₹1 crore in online share trading scam; Cyber Police launch probe

The Nagpur Cyber Police have started an investigation into a major online share trading scam in which a 61-year-old resident of Congress Nagar lost over ₹1 crore. The victim was allegedly tricked by cyber fraudsters who promised high returns through fake online trading platforms.

According to police, the victim, who had previously worked abroad, was contacted by the fraudsters in September. They added him to a WhatsApp group promoting “profitable” share trading schemes. To make their claims look genuine, the fraudsters shared fake success stories and testimonials from supposed investors.

The scammers then sent him a link to download a trading app, where his account falsely showed profits worth ₹4 crore. Believing the platform was real, the victim invested a total of ₹1.08 crore through multiple bank accounts linked to the fraudsters. However, when he tried to withdraw his profits, the scammers made excuses and later stopped responding.

Realizing he had been cheated, the victim filed a complaint at the Dhantoli Police Station. The case was later transferred to the Nagpur Cyber Police Station for further investigation.

Officials said they have already managed to freeze a portion of the defrauded money. Police have identified 78 mobile number holders and several bank account operators involved in the case. A special cyber cell team is now analyzing digital evidence to trace the wider network behind the scam.

Investigators believe the group could be part of a larger organized cybercrime syndicate operating across several states. The probe is ongoing.