Stock Trading Scam: Greater Noida Woman Duped of ₹51 Lakh in Fake Investment Scheme

Stock Trading Scam: A Greater Noida woman, Meenu Rani, has allegedly been scammed of ₹51.50 lakh in a fake stock trading scheme, police reported on Monday. The accused, Hari Singh, claimed to have 15 years of experience in stock investments and promised high returns.

How the Fraud Was Executed

According to Meenu Rani's complaint, she was lured into the scheme and added to a WhatsApp group where members convinced her of its legitimacy.

Aarti Singh, a member of the group, told Rani that Hari Singh had purchased multiple Amazon gift vouchers of ₹1,000 to help a woman.
Rani was asked to redeem a ₹1,000 Amazon gift voucher, which successfully credited to her account, building her trust in the scheme.
Hari Singh then convinced Rani that an investment in the stock market could yield 3-5x returns within a month.

Progression of the Scam

Initially, Rani invested ₹50,000 and saw profits displayed on an app recommended by the fraudsters.
Encouraged by the fake profits, she invested larger amounts, borrowing money from her husband, mother-in-law, and relatives.
Eventually, when Rani sought a loan from an acquaintance, she was warned that she had been scammed.
When she demanded her money back, the fraudsters cut off contact.

Police Investigation Underway

Deputy Commissioner of Police (Cyber Crime) Preeti Yadav stated that out of the total amount deposited, ₹4.8 lakh has been frozen. A case has been registered under the Information Technology Act, and further investigations are ongoing to recover the remaining funds.

How to Protect Yourself from Investment Scams

Verify credentials before investing in stock market schemes.
Avoid WhatsApp and Telegram investment groups promoting "guaranteed returns."
Never transfer large sums to unknown individuals or apps.
Report suspicious schemes to cybercrime authorities immediately.

Conclusion

This Greater Noida stock trading scam highlights how fraudsters manipulate trust and fake profits to dupe investors. Authorities are actively investigating, but the incident serves as a cautionary tale for others to exercise caution while investing online.