Rajandeep Singh, a 64-year-old resident of Sector 71, Mohali, became the victim of a sophisticated online scam after a Facebook investment pop-up lured him into investing Rs 1.5 crore. Singh clicked on an ad claiming to offer high returns via reputed firms like HDFC Securities Pvt Ltd and Upstox Pvt Ltd. The ad added him to a WhatsApp group called “B-7 HDFC Market Navigation,” where the scammers began their professional-looking setup.
How The Scam Took Place
The fraudsters used fake SEBI certificates, forged IDs, and even posed as company CEOs to gain Singh’s trust.
They started small, showing him a Rs 10,000 investment that appeared to double. Convinced, Singh invested larger sums, Rs 71.34 lakh and Rs 34.35 lakh, across multiple accounts. Each time, the returns seemed real, but the money was being siphoned off. Eventually, the scammers deleted all accounts, leaving Singh with nothing.
“They first showed me double returns on Rs 10,000. That convinced me to invest more, but in the end, they vanished after taking all my money,” Singh said.
Tips To Avoid Online Investment Scams
Cyber Crime Police urge caution: never trust pop-ups promising unrealistic returns. Verify company credentials, avoid unknown WhatsApp groups, and consult official websites or certified financial advisors before investing.
Also, enable two-factor authentication on social media accounts and be sceptical of overly convincing messages or calls claiming to be from banks or brokers. If something sounds too good to be true, it usually is.
Authorities have registered a case under the IT Act and warn that these scams are highly organised and increasingly common.
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By learning from Singh’s experience, people can stay alert, protect their money, and avoid falling victim to clever online schemes. Being cautious and informed is the best defence against modern cyber fraud.
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