Representative Image for cyber-crime.
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Bengaluru: An engineer and a private firm employee lost Rs 2.28 crore in fraudulent online trading schemes over several months.
The East Cybercrime police registered two separate cases this past week.
The larger loss of Rs 1.40 crore was reported by Ramnath S (name changed), a 45-year-old engineer from Ramamurthy Nagar. He believed he was investing with a genuine firm for nearly 10 months before realising he had been conned.
Ramnath first received a WhatsApp message in December 2024 from a woman named Rani Saha, who claimed she became a millionaire through online investments.
He was later added to a WhatsApp group, where he met Ravi Kumar. During a work trip to the UK, Kumar persuaded him to invest Rs 10,000. After receiving and withdrawing small profits, Ramnath trusted the scheme.
He was then introduced to one “Diwakar from Cambridge University” and continued transferring money. Over 10 months, he paid Rs 1,40,14,197 into their accounts.
Whenever he tried to make a withdrawal, he was asked to pay 5% as service charges. Suspicious, he consulted friends and realised the scam.
The second victim, Sanath P (name changed) from Banaswadi, lost Rs 88.36 lakh between June and September 2025.
Believing he was investing in a SEBI-registered company called "Odmax/Oppenheimer", he downloaded a fake trading app shared by the suspects. The app displayed fabricated gains to keep him engaged.
Sanath also invested Rs 8.40 lakh belonging to his brother-in-law, managing to withdraw only Rs 50,000 once. Multiple failed withdrawal attempts made him suspicious, and he, too, confirmed the fraud after speaking to friends.
Both victims later approached the police.
Investigators are tracing bank accounts and attempting to freeze the funds. Further probe is underway.