Salt Lake bizman falls prey to investment fraud, loses 1.8cr
Times of India | 16 November 2025
Kolkata: A 57-year-old businessman, residing at AC Block in Salt Lake, was allegedly duped of about Rs 1.8 crore in an investment fraud on an online platform.
The victim was introduced to the fraudulent scheme through a WhatsApp group that was apparently being run in the name of a leading wealth management firm.
The businessman lodged a complaint at the Bidhannagar Cyber Crime Police Station on Friday. According to the victim, he was invited to join the WhatsApp group via a link to a website.
After he created an account on the site, he was allegedly contacted by an individual, named Ananya Varma, who communicated only through WhatsApp messages and calls. Varma, claiming to be an assistant with the investment group, guided the victim through the investment process.
Between Sept 29 and Nov 3, the victim invested about Rs 1.8 crore and reportedly received what appeared to be a SEBI-stamped certificate.
However, when the victim attempted to withdraw his funds a few days later, he was informed that his ‘score' had dropped, and that he would need to deposit an additional Rs 25 lakh to recover the points necessary for withdrawal. The victim stated that he was never informed of any such scoring system or penalties for a drop in score prior to his investment.
Despite repeated attempts, his meeting with the accused— who went by the name of Varma in Mumbai— was postponed.
Finally, he was told that withdrawal of his funds would not be possible without the additional payment. When the victim tried to tell them that he would move SEBI, he was reportedly threatened before communication was stopped by the perpetrators.
Realising he was defrauded, the victim promptly reported the incident on the National Cyber Crime Reporting Portal (NCCRP). Thereafter, the Bidhannagar Cyber Crime Police Station registered the case under multiple sections of the BNS Act, 2023, including sections 316(2), 318(4), 319(2), 338, 336, 111(4), 111(6), and 61(2).
Police are trying to trace the origin of the fraud website.