Cyber fraudsters allegedly cheated a retired elderly man of ₹23.33 lakh in Ghaziabad by luring him with promises of high returns through online trading. The accused persuaded the victim to transfer money into multiple bank accounts on the pretext of stock market investments.
The victim, Suresh Chandra Shekhar, a resident of Khoda Colony, lodged a complaint at the Cyber Crime Police Station after realizing he had been defrauded.
According to the complaint, on November 25, a person identifying himself as Professor Prem Prakash Verma added the victim to a WhatsApp group named “VIP Eight.” The accused claimed that he was writing a book on stock management, scheduled for release in February, and projected himself as a market expert.
On December 23, Verma allegedly began online trading activities, claiming association with a SEBI-registered company, and assured group members of 20–30 per cent weekly returns. The victim was sent a link to open a trading account and was encouraged to invest money.
Believing the assurances, the elderly man transferred money multiple times to eight different bank accounts, eventually losing ₹23.33 lakh by January 2026.
On January 22, when the victim attempted to withdraw profits worth ₹30 lakh, he was shown a withdrawal option on the app. However, the request was later rejected, and the fraudsters demanded additional money in the name of tax charges. This raised suspicion, prompting the victim to approach the police.
Additional Deputy Commissioner of Police (Crime) Piyush Singh said that an investigation is underway and efforts are being made to freeze the defrauded amount. Further legal action will be taken based on the findings of the probe.
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