Facebook Scam duped ₹1.5 Crore from an Elderly Man in Mohali
“An elderly man from Mohali has been duped of ₹1.5 Crore due to a Facebook scam running online.”
A 64-year-old man from Sector 71, Mohali, suffered financial ruin as a result of what started off as a typical Facebook scroll. One of the most complex cyber frauds in recent months was caused by an investment pop-up that appeared harmless at first and promised large returns under the guise of reputable companies HDFC Securities Pvt. Ltd. and Upstox Pvt. Ltd.
The victim, Rajandeep Singh, reportedly saw the advertisement for the first time on June 2nd, according to the complaint submitted to the Mohali Cyber Crime Police. He clicked and was taken to the “B-7 HDFC Market Navigation” WhatsApp group.
What transpired was a meticulously planned confidence game, fueled by fake trading screens, fake SEBI credentials, and people impersonating business leaders.
Developing Credibility With Minor Investments
According to investigators, the scammers used a traditional tactic to establish trust. Singh was initially convinced to contribute ₹10,000. A falsified trading interface revealed that the sum had increased in a matter of hours. He was enticed into bigger commitments by the little success.
Encouraged, Singh made further transactions totaling ₹71.34 lakh and then ₹34.35 lakh. The con artists always made new IDs with doubled balances. However, in practice, the funds were being transferred into accounts under the fraud ring’s control.
Singh had nothing left after the accounts were abruptly deleted when he tried to withdraw money.
Police Are Investigating
In accordance with Section 66C of the Information Technology Act and the Bharatiya Nyaya Sanhita, the Cyber Crime Police have filed a complaint. According to officials, the operation had the characteristics of an organized syndicate, taking advantage of confidence through impersonation, professional branding, and falsified documents.
Such frauds are getting more complex, combining psychological manipulation with technology, according to a senior officer. Police have warned the public to be cautious of internet scams that promise astronomical returns, particularly those that use the names of reputable financial institutions.
The high risks of unregulated digital advertising and the weaknesses of social media platforms are both highlighted by this instance, which joins an increasing number of cyber fraud incidents in India.
About The Author
Suraj Koli is a content specialist in technical writing about cybersecurity & information security. He has written many amazing articles related to cybersecurity concepts, with the latest trends in cyber awareness and ethical hacking. Find out more about “Him.”
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