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A Facebook stock-investment link led a Bengaluru resident into a massive cyber scam where fraudsters promised doubled returns, added him to WhatsApp groups, and drained over ₹2.8 crore through fake trading platforms.
A massive cyber fraud has come to light after a city resident was duped of ₹2 crore 80 lakh 45 thousand 800 through a fake online stock-investment scheme promoted via Facebook. The victim reportedly clicked on an investment link promising exceptionally high returns, which immediately redirected him to a WhatsApp group operated by scammers.
According to the complaint filed at Basaveshwaranagar Police Station, the group administrators convinced the victim to begin with an initial investment of ₹5,000. Using a VPN-based application designed to mimic stock-trading dashboards, the fraudsters displayed fake profits, urging him to deposit higher amounts for “assured double returns.”
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Believing the platform to be genuine, the victim continued to transfer money, at times even using his friend’s account, as the fake app consistently showed rising profits. Over time, the deposits mounted to ₹2.80 crore, all funnelled to accounts managed by individuals posing as “account managers.”
Trouble began when the victim attempted to withdraw his supposed earnings. Instead of processing the payout, the scammers demanded additional payments, claiming they were required for “release charges.” When the withdrawals were repeatedly blocked, the victim realised he had been trapped in a sophisticated cyber con.
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After attempts to recover the money failed, the victim filed a detailed complaint, naming a person identified as Subhash as the alleged handler linked to the fraudulent operation.
Police have registered a case and launched an investigation into what appears to be part of a wider network that uses Facebook links and WhatsApp groups to target unsuspecting investors across Bengaluru.
