Kanpur: A businessman allegedly lost Rs 19.52 lakh after falling prey to an online share trading fraud operated through a Telegram group, where cybercriminals reportedly lured him with promises of substantial investment returns. The incident took place in the Kalyanpur police station area, according to a report by the Times of India.
The victim, identified as Santosh Kumar Kashyap, lives in Keshavpuram Awas Vikas. Police said he was introduced to a Telegram group whose members claimed to have expertise in stock market trading and encouraged him to invest money for lucrative returns.
To make the scheme appear legitimate, the fraudsters allegedly circulated screenshots displaying impressive profits. These claims reportedly convinced Kashyap to participate in the investment scheme.
Trusting the representations made by the group members, he transferred a total of Rs 19,52,361 in several transactions. The payments were reportedly made using bank accounts belonging to both him and his wife.
The fraud came to light when Kashyap attempted to withdraw his accumulated investment and returns. Instead of allowing the transaction, the group members allegedly insisted that he deposit additional money to proceed further.
When the businessman declined to make further payments, the accused reportedly removed him from the Telegram group and cut off communication, leaving him unable to recover his funds.
Following his complaint, police registered a First Information Report (FIR) and initiated action into the alleged cyber fraud.
The incident highlights how scammers exploit social media and messaging platforms to promote fraudulent investment opportunities, using fabricated profit screenshots and unrealistic return promises to gain victims’ confidence and extract large sums of money.
