Kolkata: Three city residents lost more than Rs 5 crore in investment frauds in the past 72 hours. One person was arrested by Kolkata Police in this regard.
In the first case, a 63-year-old New Town resident was allegedly cheated of Rs 2.1 crore after being lured into a fake stock trading scheme operated through WhatsApp groups. The complainant, a resident of a high-rise complex at Gouranganagar, New Town, told police that he was approached last Dec. The caller allegedly persuaded him to join multiple WhatsApp "VIP" investment groups, promising high returns through institutional trading, IPOs and stock recommendations. According to the complaint, he was asked to open a trading account on an app named "SMC-HNW" through a web link shared on WhatsApp. After an initial investment of Rs 25,000 reportedly yielded quick profits, he was encouraged to invest larger sums. Between mid-Dec 2025 and late Jan 2026, Ghosh allegedly transferred Rs 2.1 crore from six bank accounts.
Cops said the fraud came to light when he attempted to withdraw the accumulated amount shown on the app but was unable to do so. He realised that communication from the group administrators had stopped and his access was blocked.
In the second incident, reported from Anandapur, a middle-aged person said he lost Rs 43 lakh after being induced to invest online. However, unlike the usual modus operandi, the main accused landed up at the complainant's office to explain how he could maximise his gains. The accused also reportedly highlighted the "portfolios" that would bring maximum gain. Sources said the complainant realised he was tricked a few days later, on Feb 4, when he was unable to withdraw his basic invested money as well as his profits. He later found that the accused had stopped communication and had blocked the victim.
In the third incident, more than Rs 3 crore was lost, and a case was registered at the Kolkata Police Cyber Police Station based on a complaint of a 56-year-old resident of a complex in Entally. Investigators said the complainant joined a WhatsApp group created by the accused and was persuaded by them to invest in stock trading.
Cops said the complainant transferred the money to multiple accounts on the basis of misrepresentations. Cops said one of the accused was nabbed in this case. During the probe, police said they found that Rs 22,50,000 from the cheated amount was transferred to an account held in the name of a construction firm. Investigators also alleged that forged documents bearing names and logos of Securities and Exchange Board of India and US Securities and Exchange Commission were used to lend credibility to the scheme.