Mohali Man Loses ₹1.5 Crore in Facebook Investment Scam

In a shocking case of cyber fraud, a 64-year-old man from Mohali, Punjab, lost a staggering ₹1.5 crore after falling for a fake investment scheme that began with a random Facebook notification.

The victim, identified as Rajandeep Singh, clicked on an ad promising high returns in the name of reputed companies like HDFC Securities Pvt Ltd and Upstox Pvt Ltd, according to an Indian Express report.

How the Scam Worked

After clicking the ad, Singh was added to a WhatsApp group named “B-7 HDFC Market Navigation.” The group looked professional, with fraudsters posing as company CEOs and even using fake SEBI certificates and forged IDs to appear credible.

At first, Singh was asked to invest ₹10,000. The scammers doubled the amount on a fake trading platform, convincing him the returns were real. Trusting the setup, Singh went on to invest much larger sums—₹71.34 lakh and later ₹34.35 lakh.

Every time he invested, the platform showed his money doubling. But in reality, it was only numbers on the screen, not actual profits.

Soon after, the fake accounts and trading IDs disappeared, leaving Singh with no access to his money.

“They first showed me double returns on ₹10,000. That convinced me to invest more, but in the end, they vanished after taking all my money,” Singh told police.

Police Action

The Cyber Crime Police said the fraud was carried out in a “highly organised manner” using fake company names and professional tools. A case has been registered against two unidentified persons under sections of the Bharatiya Nyaya Sanhita (BNS) and Section 66C of the IT Act.

Authorities also warned that similar online investment frauds have been reported recently, urging people to be cautious of ads and pop-ups on social media platforms.