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A man from Bhuj, Gujarat, lost over ₹16 lakh in a WhatsApp-based stock investment scam highlighting the rising cases of digital financial frauds in India. The victim, Ajitsinh Jadeja, who works at a private firm, was tricked by fraudsters posing as stock market experts.
The scam began in April when Jadeja was added to a WhatsApp group offering daily trading tips and IPO advice. The group appeared professional and trustworthy. Later, he was sent a link to an online form and asked to download a fake trading app that claimed to enable stock and IPO investments.
Between July and August, he transferred ₹16 lakh in multiple transactions to various accounts. The scammers even sent him a small profit initially, making the operation look genuine. Eventually, when the app showed a fake ₹18 lakh loan and demanded another ₹9 lakh for withdrawal, Jadeja realised he had been cheated.
He immediately contacted the 1930 cyber helpline and filed a police complaint. Authorities have launched an investigation under the Bharatiya Nyaya Sanhita and IT Act.
Cyber experts warn investors to stay alert against fake WhatsApp groups, unsolicited investment offers, and schemes promising “guaranteed returns.” No legitimate platform ever asks users to pay extra to withdraw their own funds. Digital awareness remains the best protection.
