Ahmedabad tech employee loses ₹13 lakh in fake stock investment scam

A 28-year-old IT professional from Paldi in Ahmedabad has filed a police complaint alleging that he was duped of ₹13.75 lakh by scammers posing as SEBI-authorised stock market advisers through a WhatsApp investment group.

Dhairya Vora, a BTech graduate working with an IT firm in Ahmedabad, in his FIR registered at the Cyber Crime Police Statio, states that he was added on May 17, 2025 to a WhatsApp group named A5 Training Group, where he was encouraged to participate in stock trading.

The group’s alleged administrators — identified in the FIR as Jay Verma and Anvi Sharma claimed to represent Amansa Capital Pvt Ltd, a company they falsely described as being authorised by SEBI for investment advisory services.

Downloaded fake app, uploaded Aadhaar

The complainant stated that he was asked to download an app via a link shared in the group and to register by uploading his Aadhaar card and personal details.

Believing the setup to be legitimate, he began receiving 'tips' on stock market investments and was instructed to transfer money to multiple bank accounts through IMPS transactions.

Initial profits used to build trust

Between May 20 and June 3, 2025, Vora transferred varying amounts, following instructions from the group admins.

To win his confidence, the scammers initially processed small withdrawal requests. He received ₹50,000 twice and ₹8,700 once, which reinforced his belief that the platform was genuine.

Encouraged by these returns, he invested progressively larger sums.

App access blocked after deposits

Once the total deposits reached ₹13.75 lakh, the administrators allegedly blocked his access to the application and stopped responding to messages. When he attempted further withdrawals, the system displayed errors.

He further told police that instead of processing the refunds, the accused began harassing him and demanding more money, raising his suspicion that he had been cheated.

On June 5, the complainant contacted the national cybercrime helpline 1930 and submitted an online complaint. He later approached the cyber police station in person to file a detailed FIR.

The Cyber Crime Police Station has registered a case of cheating and criminal breach of trust. Investigators have said that the WhatsApp numbers, bank account holders, and those managing the fraudulent platform will be traced and examined.

Police said further investigation is under way to identify the suspects and determine whether the accused are part of a larger investment fraud network.