25_Kol_TB_Tamaghna_four arrested in 2 crore investment fraud
Times of India | 6 September 2026
Status: Not Approved
HEAD: 25_Kol_TB_Tamaghna_four arrested in 2 crore investment fraud
Byline: Tamaghna Banerjee
Four persons were arrested in kolkata investment fraud via fake whatsapp stock group and app
Kolkata: 4 persons were arrested in connection with a Rs 2.1 crore investment fraud in which a 63-year-old New Town resident was allegedly duped through a fake stock trading WhatsApp group and a fraudulent mobile application, police said.
The arrests were made in connection with a case dated February 4 this year, registered at the Bidhannagar Cyber Crime Police Station.
According to the complaint, the elderly man received a message in December 2025 from a mobile number in which the sender claimed to be an assistant to a popular stockbroker. He was invited to join a WhatsApp group titled “SMC VIP 29 Exclusive IT01 Support” for purchasing quality stocks. 2 other administrators operated from separate numbers, including an international number.
After joining the group, he was allegedly persuaded to engage in “institutional trading” and IPO investments through a mobile application called “SMC-HNW”, accessed via a web link shared in the group.
Police said Ghosh initially invested Rs 25,000 and was shown instant profits on the app interface. Encouraged by the apparent returns and regular stock recommendations shared in the group, he went on to invest a total of Rs 2.1 crore between December 17, 2025 and January 27, 2026.
“The money was transferred from 6 of his bank accounts to multiple beneficiary accounts allegedly provided by the fraudsters under the guise of “customer service” and “SEBI-approved” accounts,” said the officer.
While the app displayed substantial profits, the victim was unable to withdraw his funds when he attempted to redeem the accumulated amount and realised he was duped.
Cops said that, while probing the case, they arrested 4 persons: Md Arman from Domjur in Howrah, Chiranjit Das from Suti in Murshidabad, and Masud Ali and Fayed Ali from Farakka in Murshidabad.
“The arrested men are suspected to be part of a larger organised cyber fraud network operating investment scams through WhatsApp groups and cloned trading applications. We are analysing bank transaction trails, digital payment gateways, IP logs and device data to trace the money flow and identify other members of the racket,” said a senior officer of Bidhannagar city police.
Officers said efforts are underway to freeze suspect bank accounts and recover the defrauded amount. MSID:: 128779745 413 |