Instagram Fraud Case: ₹66 Lakh Trading Scam in Bilaspur

A retired South Eastern Coalfields Limited (SECL) officer in Bilaspur, Chhattisgarh, fell victim to a financial fraud involving an online acquaintance who manipulated him into investing in a purported American stock trading scheme.

Origins of the Online Connection

A 63-year-old retired SECL employee, identified as Nikhil Singh from Mangal Vihar in Sarkanda, established contact with an individual claiming to be Tanisha Thakur on Instagram on June 2, 2026. The exchange began with mutual communication via mobile numbers, during which the woman allegedly promoted opportunities in American stock market investments. She reportedly assured Singh of significant returns, prompting him to engage with the proposed scheme.

Mechanics of the Financial Deception

Following the initial conversations, Singh allegedly transferred ₹66 lakh to the fraudulent entity as per the woman’s instructions. At first, he anticipated receiving profits from the transactions. However, when he attempted to withdraw the funds and associated earnings from the platform, he was informed that additional payments were required. Fraudsters reportedly demanded further sums under the guise of taxes and administrative charges before permitting any withdrawals.

Escalation of the Scam

As the victim continued to comply with requests for additional funds, he eventually realized the scheme was illegitimate. Despite transferring the total amount, Singh found himself unable to access his principal or profits. This prompted him to report the incident to law enforcement authorities, initiating an investigation into the fraudulent activities.

Investigative Measures and Risk Awareness

Experts advise investors to verify the authenticity of trading platforms and confirm the registration status of financial intermediaries with regulatory bodies such as the Securities and Exchange Board of India. Additionally, any requests for upfront fees or taxes before releasing investment proceeds should be treated as red flags.

Ongoing Legal Proceedings

The case remains under active investigation, with authorities working to trace the perpetrators and establish the full scope of the fraudulent operation. The incident serves as a cautionary tale for individuals to exercise vigilance when engaging with unfamiliar parties offering financial opportunities online.