Telegram-WhatsApp Stock Scam : Investor Duped of ₹4.43 Crore in Sophisticated

New Delhi: In a major cyber fraud case highlighting the growing menace of online investment scams, a businessman was allegedly cheated out of more than ₹4.43 crore by fraudsters who posed as stock market experts and lured him into a sophisticated fake investment network operating through Telegram, WhatsApp groups, and fraudulent trading platforms.

According to investigators, the scammers used a combination of social engineering, fake investment advice, manipulated trading dashboards, and fabricated profit statements to convince the victim that his investments had generated returns exceeding ₹26 crore. The fraud came to light only when the victim attempted to withdraw the purported profits and was asked to pay an additional service charge exceeding ₹1 crore.

The case has once again raised serious concerns about the increasing use of social media platforms for financial fraud and the vulnerability of investors seeking high returns in volatile market conditions.

Fraud Began with a Telegram Advertisement

According to the complaint, the victim, identified as Chaudhary, encountered an investment advertisement while browsing Telegram on March 29, 2026.

The advertisement was linked to a Telegram account operating under the name “Amit20891.” It invited users to join a WhatsApp group called “663 HSBC Stock Analysis Team,” which claimed to provide professional stock market research, expert investment guidance, and exclusive wealth creation opportunities.

Believing the offer to be genuine and impressed by the professional appearance of the advertisement, Chaudhary joined the group.

Investigators stated that this was the first step in a carefully planned scheme designed to build confidence among potential victims before convincing them to transfer large amounts of money.

Fraudsters Posed as Investment Experts

Once inside the WhatsApp group, Chaudhary was introduced to individuals identifying themselves as financial experts and market analysts.

Two individuals, identified as Myra Sharma and Surendra Rosha, allegedly played key roles in managing the group and interacting with participants.

According to investigators, these administrators regularly posted stock recommendations and investment strategies while claiming that numerous group members were earning extraordinary profits through their guidance.

The group frequently featured screenshots showing alleged gains ranging from 25 percent to 75 percent, creating the impression that members were consistently generating substantial returns.

Police believe many of these screenshots were fabricated and deliberately circulated to establish credibility and encourage larger investments.

Initial Success Built Trust

In the early stages, the victim reportedly followed some of the stock recommendations using his own legitimate trading and Demat accounts.

Investigators noted that these investments generated genuine profits, likely due to favorable market conditions or carefully selected stock recommendations.

These initial gains significantly increased the victim’s confidence in the group and reinforced the belief that the administrators were experienced market professionals.

Cybercrime experts say such tactics are commonly employed by fraud syndicates. By allowing victims to earn small profits initially, scammers build trust and gradually persuade them to invest much larger sums.

Migration to New WhatsApp Groups

The alleged fraud expanded after the original WhatsApp group was suddenly shut down.

Group administrators informed members that the closure was necessary due to security concerns and invited them to join new groups for continued investment opportunities.

The victim was subsequently added to several new groups, including:

• 669 HSBC Quantitative Strategy Team
• 668 Internal VIP Strategy Team
• 663 HSBC Wealth Creation Group

Investigators believe these groups were part of the same coordinated operation and were used to create an illusion of exclusivity and professionalism.

Members were repeatedly told that they had access to privileged market information unavailable to ordinary investors.

Introduction of the “Internal Equity Account”

As trust between the victim and the alleged fraudsters deepened, he was introduced to what was described as an “Internal Equity Account.”

The administrators claimed that investments made through this special account would generate significantly higher returns than those available through conventional stock trading platforms.

According to investigators, the fraudsters assured the victim that the account was part of an exclusive investment programme reserved for select members.

The victim was informed that institutional trading strategies and advanced quantitative investment models would be used to maximize profits.

Believing the claims to be genuine, he agreed to participate.

Multiple Fake Investment Platforms Created

The fraudsters allegedly instructed the victim to create accounts on several websites presented as sophisticated investment and trading platforms.

Police investigations indicate that these websites were entirely controlled by the accused and had no connection to any legitimate financial institution.

The platforms were designed to resemble authentic stock trading portals and displayed:

• Portfolio balances
• Trading activity
• Investment growth charts
• Daily profit statements
• Account performance summaries

Investigators believe these features were specifically created to convince investors that their funds were actively being traded in financial markets.

Victim Transfers ₹4.43 Crore

Trusting the operation and convinced that substantial profits were being generated, the victim transferred money in multiple transactions over an extended period.

According to police records, a total of ₹4.43 crore was transferred from his bank account into 34 different bank accounts allegedly controlled by members of the fraud network.

The use of numerous accounts is believed to have been a deliberate strategy to conceal the movement of funds and complicate financial tracing efforts.

Cyber investigators are now examining these accounts to determine the identities of beneficiaries and the ultimate destination of the money.

Fake Platform Displayed ₹26.64 Crore Profits

The deception reached its peak when the fraudulent trading platform allegedly displayed enormous profits.

According to the complaint, by June 1, 2026, the platform showed that the victim’s investments had grown to an astonishing ₹26.64 crore.

The impressive figure convinced the victim that he had achieved extraordinary financial success.

Investigators believe the displayed profits were entirely fictitious and generated through manipulated software designed to mislead investors.

Experts note that fake trading dashboards have become one of the most effective tools used by cybercriminals to maintain victim confidence and prevent suspicion.

Withdrawal Attempt Exposes the Scam

The fraud began to unravel when the victim attempted to withdraw his apparent profits.

Instead of processing the withdrawal request, the operators informed him that he first needed to pay a service charge equivalent to five percent of the displayed profit amount.

This demanded payment reportedly exceeded ₹1 crore.

The fraudsters claimed the fee was mandatory and necessary to release the funds.

At this stage, the victim became suspicious.

Despite the enormous balance shown on the platform, he realized that he had never actually received any of the profits in his bank account.

The demand for additional money before allowing withdrawals raised serious concerns about the legitimacy of the operation.

Complaint Filed on National Cyber Crime Portal

After realizing that he may have fallen victim to a sophisticated fraud, Chaudhary lodged a complaint through the National Cyber Crime Reporting Portal (NCCRP) on June 1, 2026.

In his complaint, he alleged that the WhatsApp group administrators, website operators, account holders, and their associates had collectively cheated him by presenting fraudulent investment opportunities and falsely promising extraordinary returns.

The complaint triggered a formal investigation by law enforcement authorities.

Police Register Criminal Case

Based on the complaint and preliminary evidence, police have registered a case under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act.

Investigators are currently examining:

• Bank transaction records
• Mobile communication data
• WhatsApp group activity
• Telegram account details
• Website ownership records
• Digital payment trails

Authorities are also coordinating with banks and cybercrime units to identify all individuals connected to the operation.

Wider Concern Over Online Investment Frauds

Cybercrime experts warn that such frauds have become increasingly common across India.

Fraudsters frequently exploit popular platforms such as Telegram, WhatsApp, Facebook, Instagram, and other social media networks to target potential investors.

These schemes often rely on:

• Fake investment advisors
• Fabricated success stories
• Manipulated trading dashboards
• False profit screenshots
• Pressure tactics encouraging quick investments

Experts caution that any investment opportunity promising unusually high returns with little or no risk should be treated with extreme skepticism.

Public Advisory Issued

Authorities have urged citizens to verify the authenticity of investment platforms before transferring funds.

Investors are advised to:

• Confirm registration of financial entities with regulatory authorities.
• Avoid investment schemes promoted through unsolicited social media messages.
• Never transfer money to unknown bank accounts.
• Verify trading platforms independently.
• Be cautious of promises of guaranteed returns.
• Report suspicious activity immediately through official cybercrime channels.

Officials emphasized that legitimate investment institutions do not demand advance payments or service charges for releasing profits.

Investigation Continues

Police and cybercrime investigators are now working to trace the complete financial trail and identify all members of the alleged syndicate.

Authorities believe the operation may involve multiple individuals operating across different locations and potentially using sophisticated methods to conceal their identities.

As investigations continue, officials hope to recover at least part of the lost funds and bring those responsible to justice.

The case serves as another stark reminder of the evolving tactics employed by cybercriminals and the importance of vigilance when dealing with online investment opportunities that appear too good to be true.