Noida Senior Loses ₹1 Crore in WhatsApp Stock Trading Scam; 4 Suspects Named
NOIDA: A 61-year-old resident of Noida’s Sector 77 lost ₹1 crore in an elaborate stock market fraud orchestrated through WhatsApp, police revealed on Friday. The cybercrime cell has filed charges against four individuals for allegedly posing as agents of a fake US-based investment firm to dupe the victim.
According to the FIR registered at Sector 36 Cyber Crime Police Station, Seetal Kumar (name changed) was approached via WhatsApp on April 23 by fraudsters promising “guaranteed high returns” through exclusive stock market strategies. The scammers shared fabricated credentials linking their platform to a renowned global financial institution to gain trust.
Deputy Commissioner of Police (Cybercrime) Preeti Yadav stated, “The accused created a WhatsApp group to showcase fake trading success stories and pressured the victim to upgrade to a ‘premium membership’ requiring a ₹1 crore investment. Transactions were routed through multiple bank accounts between June 3 and June 28.”
The scam unraveled on July 9 when Kumar attempted to withdraw profits and was asked for additional fees. A visit to the group’s purported Mumbai office—a nonexistent address—confirmed the fraud.
Gautam Budh Nagar Police have invoked charges under Bharatiya Nyaya Sanhita (cheating, personation) and IT Act Section 66D against suspects Alyssa, Priyanka Singh, Sanjay Sharma, and Ada. Forensic experts are tracing digital footprints and frozen bank accounts to recover funds.
