Ahmedabad L&T Manager Loses ₹74 Lakh in High-Profile Trading Scandal
Larsen & Toubro Executive Loses ₹74 Lakh to Sophisticated Online Trading Scam
A recent case of online deception has come to light, where a 52-year-old executive working for Larsen & Toubro Construction Ltd in Ahmedabad, Gujarat, fell prey to a well-planned scam involving fake investment opportunities and trading platforms.
The Victim’s Story
The victim, Laxman Natarajan, lost a substantial sum of ₹74.02 lakh to the perpetrators who posed as investment advisors affiliated with ICICI Securities.
According to the investigation, the scam unfolded in December 2025 when Natarajan was added to a group called “ICICI Securities S05” through an unknown mobile number. The group members presented themselves as professionals offering stock market advice and investment strategies, creating an illusion of legitimacy.
They shared discussions, investment tips, and trading insights to build trust with the victim.
The Scammers’ Tactics
The scammers convinced Natarajan to invest through websites designed to mimic official ICICI Securities platforms. They provided suspicious domain links, including iciciqio.com and icici-qib.com, and instructed the victim to submit sensitive personal and financial information, including Aadhaar card details, PAN information, and bank account credentials.
To further deceive Natarajan, the perpetrators circulated forged documents carrying fake SEBI logos, fabricated certificates, and investment approvals that appeared authentic.
The Victim’s Loss
The victim was promised returns ranging from 15 to 25% through share trading and other market-linked investment opportunities. Initially, Natarajan invested ₹10,000 as a test transaction and was shown a small profit on the fake trading dashboard.
This was a deliberate tactic used by the scammers to gain confidence and encourage larger investments.
Over the course of one month, Natarajan made 62 separate transactions, transferring a total of ₹74.02 lakh into different accounts linked to the scam network.
However, when the victim attempted to withdraw his investment and accumulated profits, the scammers delayed payments using various excuses.
The Investigation
Natarajan eventually realized he had been deceived and reported the incident to the National Cyber Crime Helpline (1930) and the National Cyber Crime Reporting Portal.
A formal case was registered, and an investigation is ongoing.
Experts’ Warning
Experts warn that such scams are becoming increasingly sophisticated, with fraudsters using cloned websites, fake trading dashboards, and impersonation techniques to target unsuspecting investors seeking quick profits.
They advise investors to verify the authenticity of trading platforms, domain names, and regulatory registrations before investing online.