E-Paper
Mohali: Man duped of ₹27.88 lakh in online trading fraud
According to the complaint, members of the group persuaded him to invest in trading schemes by promising substantial profits
In a case of cyber fraud, a city resident was allegedly duped of ₹27.88 lakh by unidentified persons who lured him with promises of high returns through online trading. Following a preliminary probe, the Cyber Crime Police Station in Mohali has registered an FIR against the unknown accused and launched an investigation to trace the culprits.
The complainant, Vishal Kumar Mehandiratta, a resident of Shivalik Palm City, Sector 127, Kharar, had initially lodged his complaint on the National Cyber Crime Reporting Portal (NCCRP). During the inquiry, he informed police that on February 12, 2025, he was added to a WhatsApp group named “HSBC Capital Customer Care and Trading Number”.
According to the complaint, members of the group persuaded him to invest in trading schemes by promising substantial profits. He was also asked to download a mobile application through a shared link, which was allegedly used to facilitate the fraud.
Police said the accused convinced the victim to transfer money into multiple bank accounts over a period of time. Between February 12 and February 20, 2025, Mehandiratta transferred a total of ₹27.88 lakh in instalments to accounts in IDFC First Bank, IDBI Bank and Bandhan Bank. Initially, he received ₹5.50 lakh as returns, which increased his confidence in the scheme.
However, when he later attempted to withdraw the entire amount, the accused—posing as “Priya Sharma”, allegedly told him that he needed to complete an investment of ₹1 crore to enable withdrawals. He was further misled into believing that his funds were blocked in an IPO and was asked to deposit an additional ₹30.64 lakh to release the amount.
Investigations later revealed that the complainant had never applied for any IPO, confirming that the claims were fabricated as part of the scam. Realising that he had been cheated, the victim approached the police.
Officials said the fraudsters executed the scam in a well-planned manner, using fake identities, online platforms and financial manipulation to gain the victim’s trust.
Based on the findings, police have registered a case under Sections 318(4) and 61(2) of the Bharatiya Nyaya Sanhita (BNS) and Section 66 of the IT Act against the unidentified persons. The investigation has been assigned to an officer of inspector rank under the supervision of senior officials.
