Retired BARC scientist loses ₹1.3 crore in investment scam

According to police, the complainant was added to a WhatsApp group in April that used the name of a reputed wealth management firm.

A 60-year-old retired scientist from the Bhabha Atomic Research Centre (BARC) was allegedly duped of ₹1.3 crore by cyber fraudsters who lured him into investing through a fake share-trading platform promising high returns.

Retired BARC scientist loses ₹1.3 crore in investment scam

According to police, the complainant was added to a WhatsApp group in April that used the name of a reputed wealth management firm. Members of the group, who posed as investment advisors, shared investment tips and persuaded him to download a mobile application.

Believing the platform to be genuine, the man transferred ₹1.3 crore through 16 transactions to various bank accounts provided by the accused. The app reflected returns of around ₹1.38 crore, showing a profit of nearly ₹8 lakh.

When he attempted to withdraw the amount, he found that his account had been blocked. The fraudsters then allegedly told him he would have to invest another ₹82 lakh in an IPO to reactivate the account and access his funds.

A case under sections 318 (cheating), 319(cheating by personation) and 61(criminal conspiracy) of the Bharatiya Nyaya Sanhita, 2023 has been registered against unknown persons, along with Section 66D(cheating by personation) of the Information Technology Act.