Cyber Fraudsters Swindle ₹75 Lakhs from Retired Engineer in Noida

In a shocking incident in Noida, a 71-year-old retired engineer was duped of ₹75 lakhs by cyber fraudsters who lured him with promises of high returns from stock market investments. The victim was initially convinced by the scammers through shared profits and trading information in a WhatsApp group. After being encouraged to invest larger amounts, he faced a sudden block on his account when he refused to pay more. The police are currently investigating the case to trace the fraudulent accounts involved. This incident serves as a stark reminder of the growing threat of cyber scams targeting vulnerable individuals.

By Narendra Chaudhary May 3, 2026, 17:48 IST

Noida: A Major Cyber Fraud Incident

In Noida, a significant cyber fraud case has emerged where scammers, under the guise of investment opportunities, have targeted individuals, particularly the elderly. Recently, a 71-year-old retired engineer from the telecom department fell victim to these fraudsters, losing ₹75 lakhs after being lured by promises of substantial profits from stock market investments, as reported by local police.

Details of the Incident

According to police reports, the victim filed a complaint at the cyber crime police station on Saturday night. Investigations are currently underway regarding the accounts involved in the fraudulent transactions. Deputy Commissioner of Police Shavya Goyal stated that the elderly victim, Alok Sahdev, residing in 'ATS One Hamlet Society' in Sector 104, was added to an investment group on WhatsApp on February 25. This group, named 'Wealth Alliance', claimed to offer lucrative returns from investments in the stock market and IPOs.

Building Trust Before the Scam

The victim reported that members of the group frequently shared screenshots of profits and trading information, which helped build his trust. He alleged that the group members encouraged him to download a trading app, claiming it would facilitate investments in both Indian and foreign markets. Initially, he invested a small amount and earned ₹8,000, which further increased his confidence in the scheme.

The Deceptive Tactics of the Fraudsters

Following this, the scammers persuaded him to invest larger sums, gradually directing him to transfer money into various bank accounts. They misled him into believing that he had received a large allotment of shares and warned that failure to deposit additional funds could result in a freeze on his account transactions. When he refused to pay more, his app account was blocked, he was removed from the WhatsApp group, and all displayed profits vanished.

Ongoing Investigation by Cyber Cell

The victim reported that he was defrauded of ₹75.64 lakhs in total. Police officials confirmed that the cyber crime unit is actively investigating the case to trace the accounts involved in the transactions. They also indicated that transactions in the suspicious accounts would be halted.