A man has reportedly been defrauded of ₹24.2 lakh through a sophisticated online investment scam involving fake trading platforms promoted via Instagram and WhatsApp.
According to the complaint, the victim came across an Instagram advertisement in March last year promoting trading opportunities. Clicking the link led him to a Telegram group named ‘Fyers Market Discussion Group’. A person named Sharon Trivedi soon added him to a WhatsApp group, shared a registration form, and later sent a download link for a trading app.
Trivedi regularly communicated with the victim, persuading him to invest in high-return schemes such as Institutional Stock and IPO Placement. The app’s customer support team provided multiple bank accounts and IFSC codes to facilitate the investments.
In a similar incident, the victim encountered another trading advertisement on Instagram, where a woman named Ishita Paul contacted him via different WhatsApp numbers. She introduced another website-based platform and guided him through further investments.
Between April 21, 2024, and May 31, 2025, the victim transferred ₹24.2 lakh through UPI, RTGS, and IMPS to various bank accounts. Initially, small returns were provided to build trust. However, when he requested full withdrawal, he was repeatedly asked to pay taxes, commission fees, and eventually a 10% security deposit.
Realising the fraud, he waited for several months in hope of reimbursement, but upon receiving nothing, he finally lodged a police complaint.
The CEN Crime Police Station has officially registered a case and begun investigations.
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