04-05-2025
Chandigarh doctor, wife lose ₹1.4 crore to elaborate investment scam
Offering lucrative returns by posing as representatives of an investment banking firm, cyber criminals defrauded a city-based doctor and his wife of ₹1.4 crore through an elaborate conspiracy.
The complainant, Dr Anupam Lal, a resident of Sector 24-B, alleged that a highly trained group of scammers posed as officials of JM Financial Services, and lured him and his wife into investing in fake Portfolio Management Services (PMS) accounts through counterfeit websites.
The accused operated a WhatsApp group named 'W6 Stock Uptrend Club', managed by different individuals. Convincing users that they were investing with JM Financial, they asked them to transfer funds into various accounts, many of which were found to be linked to shell firms.
According to the FIR, Dr Lal and his wife transferred funds to at least 18 different bank accounts between August and September 2024, with transactions ranging from ₹50,000 to ₹24.5 lakh, resulting in a total loss of ₹1.4 crore.
Initially, the fraudsters returned small profits to win the victims' trust, but later blocked withdrawal access. When Dr Lal tried to recover his money, the accused went off the grid.
Dr Lal filed a complaint on the National Cyber Crime Portal on October 11, 2024, and a comprehensive written complaint to Chandigarh Police. Following a preliminary inquiry, now an FIR under Sections 319 (2), 318 (4), 336 (3), 338, 340 (2), 61 (2) and 111 (2)(b) of the Bharatiya Nyaya Sanhita has been lodged. The matter is under investigation.
