Kaikhali bizman loses 1.5 crore in investment scam
Times of India | 3 December 2025
Kolkata: A 73-year-old resident from Kaikhali lost Rs 1.5 crore in the latest case of investment fraud. The scam highlights the continuous improvisations being made by fraudsters in online financial frauds targeting unsuspecting individuals.
The accused, whose identities are yet to be fully disclosed, allegedly lured the senior citizen into a fake investment scheme through multiple PowerPoint-enabled tutorials. The fraudsters approached the businessman in early Sept through a WhatsApp group, enticing him with promises of lucrative returns from stock trading via an online platform named AcsTrade (a fake profile).
Convinced about potential profits, the victim downloaded the app on his mobile. The app, as per the instructions of the accused, displayed fabricated investment growth and profits, with its interface always updated and reflecting the actual stock market situation.
The scam involved a deceptive mechanism where the victim was shown false profits and was asked to repay a loan amount along with a membership service fee from his own resources to retrieve his invested amount with the promised profit. Over time, the businessman transferred Rs 1.5 crore in multiple transactions to bank accounts provided by the fraudsters, only to realise later that he was duped.
In response to this incident and the rising trend of similar frauds, Kolkata Police has issued a detailed 15-point guideline aimed at protecting citizens from online investment scams. These guidelines emphasise the importance of verifying the identity of financial agents, including checking their ID, licence number, and registration status. The police have urged investors to cross-verify all information with official govt sources or through reliable websites and apps.
The guidelines also advise investors to keep copies of all documents, receipts, and communications related to their investments. A crucial recommendation is to avoid signing any documents without fully understanding them and to be cautious of offers that promise "quick approval", "special offers" or "guaranteed returns".