A 25-year-old man, Harish Jaiswal, has been defrauded of Rs 5 lakh by cyber scammers who lured him with promises of high returns on share market investments.

 

The incident, reported in the city’s Tila Jamalpura area, has led police to register a case against unknown fraudsters under sections of the Indian Penal Code related to cheating and the IT Act. Authorities have identified two suspects, Harisingh and Datta, and a search operation is underway. According to police, Harish Jaiswal, a resident of the Ram Mandir area, received a link on his mobile phone in January 2025.

 

Upon clicking the link, he was added to a WhatsApp group where members enticed him with the prospect of significant profits from share market investments. Falling for the deception, Jaiswal transferred a total of Rs 5 lakh in multiple installments via UPI to bank accounts provided by the fraudsters. He was then shown an online account balance of Rs 14 lakh. However, when he attempted to withdraw the money, he was told that withdrawals would only be possible once the account balance reached Rs 20 lakh.

 

When he refused to deposit more money, he was removed from the group. After a prolonged period with no sign of his money, Jaiswal lodged a complaint with the Cyber Crime Branch, which subsequently transferred the case to the Tila Jamalpura police. Station House Officer D P Singh stated that the investigation revealed Jaiswal had transferred the funds to accounts in HDFC and ICICI banks. Police have initiated correspondence with the banks for account details. Initial findings have pointed to two individuals, Harisingh and Datta, as the prime suspects, and raids are being conducted to apprehend them.