Ludhiana: Teen loses ₹16 lakh to cyber fraud in fake investment scam

An 18-year-old boy lost ₹16.08 lakh to cyber fraudsters, who duped him under the guise of stock market investment. The teenager, who had received the money from his father for college entrance exams and fee, was added to a WhatsApp group where fake investment profits were shown to lure him into further transactions.

When the boy asked for his money back, the fraudsters refused and pressured him to invest more. Realising the scam, he informed his family, who then approached the Cyber Crime Police Station of Ludhiana Commissionerate.

The complainant’s father shared that he had transferred money into his son’s account to cover his college entrance fees. However, while scrolling Instagram, the teenager came across an advertisement about stock market investment. Clicking on it led him to a WhatsApp group where fraudsters pretended to offer stock tips and investment advice.

“The accused kept showing fake screenshots of an app claiming that the stocks were growing, and my son was making a profit. Trusting them, he continued transferring money,” the father said.

Between January 10 and January 28, the victim transferred ₹16.08 lakh into various bank accounts provided by the fraudsters. When he asked for the money and profits back, they refused, issued threats, and demanded further investment.

ASI Harjeet Singh, the investigating officer, confirmed that the police have begun tracking the bank accounts where the money was transferred. Authorities are now working to identify the suspects and recover the lost amount.

He added that the Cyber Crime Police Station has registered an FIR against unidentified accused under Sections 318(2) (cheating) and 61(2) (criminal conspiracy) of the Bharatiya Nyaya Sanhita (BNS), based on the teenager’s complaint.

The police have also warned the public to be cautious of online investment scams and urged individuals to verify financial platforms before making any transactions.