Paralysed Bengaluru man duped of Rs 30 lakh in trading scam run via WhatsApp

Bengaluru: A 52-year-old paralysed man lost Rs 30.6 lakh to cybercrooks who lured him through a WhatsApp trading group named ‘Wealth Accelerator’ between Jan 9 and May 1.The victim, Aravind from Ramamurthynagar, held a top post at a private firm. According to the complaint filed by his son with East Crime police on May 16, Aravind has been bedridden since July 2024. On Jan 9, he was added to a WhatsApp group, where fraudsters claimed to teach share market trading and research techniques. Initially, the group regularly shared stock market trends, trading tips, and predictions about stocks expected to rise. Gaining his trust, the fraudsters later introduced themselves as representatives of a company called ‘Falcon Globe Trading, USA’.Hoping to earn money for his medical expenses and his daughter’s marriage, he believed them when they allegedly circulated fake Sebi registration documents and convinced members to join their platform.He downloaded an application provided by the crooks and initially invested in short-term trades. The app displayed attractive profits in his account, making him believe the trading was genuine.The fraudsters then persuaded him to invest in a so-called PayPal IPO in the US market, promising returns of over 200%. The app even showed bonus shares and fake profits, further boosting his confidence.Later, the scammers introduced another IPO named PLAI and allegedly convinced him to apply for 8,000 shares. Days later, informing him that 16,000 shares had been allotted, they demanded Rs 60 lakh to complete the purchase, promising 280% returns after listing.They allegedly asked him to transfer Rs 30 lakh first, assuring him they would arrange the remaining amount themselves. Aravind arranged the money through personal loans, pledging family gold, and borrowing from relatives and friends.However, after the amount was transferred, the fraudsters allegedly demanded the remaining Rs 30 lakh as well. When Aravind requested cancellation of allotment and a refund of his money, they refused. Soon after, his account was blocked and both the mobile application and website stopped functioning. The fraudsters also allegedly stopped responding to calls and messages.A senior officer said, “Aravind filed a complaint on the National Cyber Crime Reporting Portal (NCRP) on May 1, 2026. Based on his complaint, we have registered a case under the Information Technology Act and BNS Section 318 (cheating).”