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2h ago

Noida Police Probe Rs 12 Crore WhatsApp Investment Scam After Consultant Files FIR

Investigators are moving to freeze bank accounts linked to the transfers.

Police said when he tried to withdraw some money, ₹9 lakh was credited to his account. But later when he was insisted to also buy an Initial Public Offering (IPO) for ₹17 crore, he realised to have fallen into a trap. (Representational image)
A Noida Sector-47 consultant was duped of Rs 12 crore in a WhatsApp-based investment scam in what is being called the city's biggest-ever cyber fraud.
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Overview

  • A 50-year-old engineering consultant from Sector 47 reported losing about ₹12 crore after being approached on October 17 by a woman identifying herself as “Kiara Sharma” on WhatsApp.
  • He was added to curated WhatsApp groups that shared profit screenshots and was directed to a purported trading app named SDAMCMAX.
  • After an initial ₹50,000 stake, he was allowed to withdraw ₹9 lakh as supposed profit, then made nine large transfers totaling roughly ₹11.99–12 crore between October 17 and November 25.
  • The pressure escalated with a push to buy an IPO worth ₹17 crore, prompting the victim to report the case via the National Cyber Crime Reporting Portal and lodge an FIR at the Cybercrime Branch.
  • Police say sections for cheating and personation under the Bharatiya Nyaya Sanhita and relevant IT Act provisions have been invoked, accounts used by the fraudsters have been identified, and efforts to trace suspects and freeze funds are underway.