Ahmedabad: A Ghatlodia man hoping to secure money for his wife’s cancer treatment allegedly ended up losing nearly Rs 58 lakh to cyber fraudsters posing as stock market experts. Police said the accused lured him with promises of massive returns through a “special funded account” scheme. Over several months, the victim allegedly transferred money through bank accounts, QR codes and even angadia firms. By the time he realised something was wrong, the fraudsters had vanished.The Cybercrime police registered an FIR on Wednesday after the victim alleged that he was trapped over several months by a group posing as professional investment advisors. According to the complaint, the fraud began in June 2025 when the victim, who works as a graphic designer with a private firm in Navrangpura, received a call from a man identifying himself as “Pravin” from a company named “Stock Operator.in”. The caller allegedly offered lucrative stock market tips before introducing him to another man calling himself “Anil Dubey”.Police said the accused convinced the victim to invest in multiple schemes, including a “special funded account” plan under which an investment of nearly Rs 40 lakh would allegedly create a Rs 2 crore trading account capable of generating massive daily returns.Initially hesitant because of financial difficulties, Mistry first transferred Rs 3.45 lakh online after being assured he could gradually increase his investment.Investigators said the fraudsters later pressured him to keep paying money, claiming his account could otherwise be frozen or penalised. They allegedly instructed him to transfer funds through angadia firms in Navrangpura instead of official company accounts, saying it would help “manage” company server records.Over time, Mistry allegedly transferred large sums through angadia operators to a man identified as “Bhavesh”, besides making payments through QR codes and bank transfers.Police said the fraudsters continuously sent him fabricated emails, fake agreements, screenshots of a purported trading dashboard and forged investment records showing profits exceeding Rs 2.49 crore to gain his confidence.The complainant told police that he continued investing partly because his wife had been diagnosed with cancer and he believed the promised returns would help fund her treatment. The accused allegedly stopped responding after collecting Rs 57.85 lakh in total.The FIR names several unidentified persons who used the names Anil Dubey, Viraj, Suraj Singh, Shohel and Pravin while operating through multiple mobile numbers, WhatsApp calls, fake emails and a fraudulent investment website.Cybercrime police have launched an investigation into the online investment fraud network.
