A man identified as Amit Kumar was allegedly defrauded of ₹1.02 crore by cybercriminals in Saharanpur after being lured into an online trading scheme promising high returns. The fraudsters reportedly added him to messaging groups and persuaded him to download a fake trading application, through which they gradually extracted large sums of money before he realised the deception.
According to the complaint, the incident began about three months ago. In the last week of December 2025, Kumar received a phone call from an unknown individual who introduced himself as a stock market trader and claimed that he could help Kumar earn substantial profits through online trading investments.
Soon afterward, on January 1, Kumar discovered that his phone number had been added to a group on WhatsApp named “Fisdom Institutional Stock Trading.” He was also included in another group called “Amit VIP Exclusive Service Team-15,” where members regularly shared stock market tips, trading strategies, and personalised investment alerts.
A few days later, a person identified as Rakshita Ved, who was reportedly the administrator of one of the groups, contacted Kumar directly and asked him to download a trading application called Fisdpro to begin investing through the platform.
At the initial stage of the scheme, Kumar reportedly received a payment of ₹24,100 shortly after starting the trading activity. The small payout convinced him that the platform was legitimate, prompting him to invest larger amounts between January 21 and March.
During this period, the fraudsters persuaded Kumar to invest heavily in what they claimed was an upcoming Initial Public Offering. They told him that shares worth ₹35 lakh had been allotted in his name and that additional payments were required to complete the process.
The accused then allegedly demanded ₹3.12 crore as short-term tax payments in order to enable the withdrawal of profits from the platform. They also pressured Kumar to invest another ₹50 lakh, claiming it was necessary to complete the transaction and release his earnings.
As doubts about the authenticity of the scheme began to grow, Kumar realised that he had likely been defrauded and subsequently filed a complaint with the police.
Following the complaint, authorities launched an investigation to identify and trace the individuals involved in the cyber fraud. Police officials are currently attempting to locate the suspects and track the financial transactions linked to the case.
Commenting on the incident, a senior police officer said that fraudsters had cheated Kumar of more than ₹1 crore through the fake trading scheme and that efforts were underway to identify the accused and determine their whereabouts.
