Fake Stock Trading App Scam in Delhi-NCR: ₹22.7 Lakh Stolen, Two Arrested

Delhi Police’s Cyber Crime Unit has uncovered a significant online investment fraud operation in which a fake stock trading application defrauded a Delhi-based doctor of ₹22.7 lakh. Two men from Hisar, Haryana, have been arrested in connection with the case.

The fraud was reported after the victim filed an online complaint on November 13, alleging she was cheated via a fraudulent stock market investment scheme. She had been added to a WhatsApp group named “Stan Chart Dialogue Forum L7,” which was administered by individuals claiming to be professional stock traders. Group discussions centered on Demat share investments and market opportunities.

An administrator, identified as Yalini Guna, persuaded the complainant to invest through a fake trading application called “SCIIHNW.” The victim initially invested ₹2.7 lakh in multiple transactions. When she attempted to withdraw the funds, she was pressured to invest further under various pretexts, eventually losing a total of ₹22.7 lakh. She was subsequently blocked from the application.

Investigation traced a portion of the fraud proceeds to a Bank of Maharashtra account held by Sameer, a 22-year-old from Hisar. Call Detail Records revealed several other mobile numbers used in the scheme. Police conducted raids on November 10 in Hisar, arresting Sameer and Dev Singh, also 22. During interrogation, Sameer disclosed he had opened multiple bank accounts across different banks and transferred them to Dev Singh for ₹4,000 per account, which were then used to route the fraudulent funds. Authorities seized two mobile phones and three SIM cards from the suspects.

The case illustrates the continued prevalence of online investment scams, where social media platforms and messaging applications are leveraged to simulate legitimacy and extract funds from unsuspecting investors. Authorities are continuing to track the financial flows associated with the fake application and monitor other potential networks linked to the suspects. Both accused have been sent to judicial custody, and the investigation remains active.