Retd Air Force officer loses Rs 2.65 crore in cyber fraud

A retired Air Force officer has been allegedly defrauded of Rs 2.65 crore by cyber fraudsters under the guise of investment in the stock market. An FIR has been registered at the Cyber-Crime Police Station, East.

According to the complaint filed by the officer, a resident of La-Lagoon Apartment in Sector 54, he came across an online advertisement in December 2023 promising lucrative returns on stock market investments. After engaging with the advertisement, he was sent a link via WhatsApp and was instructed to download an app related to the stock market on his phone.

The fraudsters behind the scam persuaded him to invest in shares, claiming that he would earn good profits on the same. Initially investing small amounts, the officer began to see significant returns, which led him to invest larger sums. However, when he tried to withdraw the money by selling his shares, he found that he could not. The fraudsters then convinced him to deposit more money as “security” to facilitate the withdrawal.

By January 23, 2025, the victim had been defrauded of Rs 2.65 crore. Realising he had fallen victim to a scam, he reported the matter to the police.