Gautam Buddh Nagar, November 8 (Udaipur Kiran) — Cyber fraudsters allegedly duped a retired engineer of ₹71 lakh by luring him into investing in fake share trading schemes with promises of high profits. The victim, an 80-year-old resident of Sector-78, even took loans to invest further, believing he was earning genuine returns.
According to Additional Deputy Commissioner of Police (Cyber Crime) Shaivya Goyal, the complainant, Rakesh Jain, was contacted on social media by a woman named Pooja on October 1 this year. The two later began communicating over WhatsApp, where the woman convinced Jain to invest in the stock market, assuring him that his money would double or even triple in a short period.
After gaining his confidence, the woman added him to a WhatsApp group that appeared to offer share trading training. The fraudsters then asked him to download an app named “Fyers SNI,” designed to resemble a legitimate Bengaluru-based brokerage firm, Fyers Securities. Since Jain was familiar with the real company, he trusted the app and began investing.
Initially, the retired engineer received small profits and was even able to withdraw some money, which further strengthened his belief. Encouraged by these apparent gains, he transferred a total of ₹71 lakh in more than ten transactions.
However, when he later tried to withdraw his funds, the fraudsters told him he needed to clear taxes and loan interest first. They even offered him a fake loan to continue the deception. Eventually, when Jain kept demanding his money back, the scammers removed him from the WhatsApp group, and the woman’s number was found switched off.
The Cyber Crime police have registered a case against the accused woman and launched an investigation into the matter.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
