Chandigarh Police crack online investment fraud, arrest key accused

Cyber Crime Police Station, UT Chandigarh, has arrested a 28-year-old man identified as Deepak, son of Suresh Kumar, in connection with two major online investment frauds that duped residents of Chandigarh of over Rs 1.6 crore.

An FIR (dated May 2, 2025) was registered on the complaint of a city resident who, along with his wife, lost around Rs 1.4 crore through fake trading websites – gomcz.com and wuihdjh.com. Victims were lured via a WhatsApp group, where fraudsters impersonated JM Financial representatives and convinced them to open portfolio management service accounts. Initial small profits were shown to build trust before withdrawals were blocked.

Investigation revealed that large sums were routed through multiple accounts, including one belonging to M/s Mavona Logistics Services, before being diverted to Deepak’s bank account. Acting on leads, police arrested him in Jhajjar, Haryana, on August 28.

Another case registered on July 15 stemmed from another resident’s complaint. The victim, after clicking a YouTube pop-up advertisement, was added to a WhatsApp group featuring fake investment lectures, quizzes and fabricated success stories. Persuaded, he invested Rs 26.5 lakh into various accounts, including Deepak’s bank account. When he sought withdrawals, he was threatened with legal consequences.

Police have so far secured lien amounts of Rs 65,057 in the May 2 FIR and nearly Rs 12 lakh in FIR dated July 15. Bank accounts involved are under scrutiny, with efforts ongoing to trace the wider financial trail and identify other members of the fraud syndicate.

The action, carried out under the leadership of SP Cyber Crime Geetanjali Khandelwal, IPS, with the supervision of DSP A Venkatesh and Inspector Eram Rizvi, SHO, Sector 17 Cyber Crime Police Station, marks a decisive step towards curbing the rising menace of financial scams in the region.

Officials cautioned the public against online investment scams, warning that fraudsters often create fake websites, impersonate financial experts, and offer small initial profits to entrap victims. Citizens are urged to verify offers only with SEBI-registered companies and to report suspected fraud immediately via the National Cyber Crime Helpline 1930 or www.cybercrime.gov.in.

The accused remains in police remand as further investigations continue.