MP: Contractor in Gwalior loses over Rs 91 lakh in cyber fraud, police launch probe

GWALIOR: A 49-year-old contractor from Madhya Pradesh’s Gwalior lost over Rs 91 lakh to cyber fraudsters who lured him with promises of high returns on investment, police said on Tuesday.

The victim has been identified as Jai Singh Chouhan, a resident of Gola Ka Mandir locality.

According to officials, Chouhan, who works as a contractor and previously invested in the share market, was tricked by fraudsters posing as representatives of an investment company offering lucrative returns.

“When the victim realised that he was duped, he approached the Crime Branch police station and lodged a complaint on June 8,” said Additional Superintendent of Police (ASP) Niranjan Sharma.

“A case related to cyber fraud of Rs 91 lakh has been at the Cybercrime Wing of the Crime Branch in Gwalior. The victim had a background in share market investments. He received a WhatsApp message from people claiming to represent a company offering returns of around 10 to 30 per cent on investments,” ASP Sharma said.

He said the victim also received a follow-up phone call that convinced him of the scheme’s legitimacy. Based on the instructions, Chouhan downloaded a mobile application linked to the fraudulent scheme.

After making an initial investment, the victim saw a benefit of around 30 per cent reflected on the app, which built his confidence. Motivated by greed, he continued investing and eventually transferred around Rs 91 lakh in total. However, when he failed to receive any actual returns and tried to contact the supposed company, he realised he had fallen victim to cyber fraud,” the ASP said.

He added that police have launched an investigation and are working to identify and apprehend the culprits as soon as possible.

ASP Sharma also issued a public advisory, urging citizens to exercise caution when dealing with unknown callers or investment offers.

“I urge everyone to be extremely cautious if they receive messages or calls from unknown numbers asking them to download apps or invest money. These are often traps set by cyber fraudsters,” he added. (ANI)