Ahmedabad: Lured by the promise of high returns through online trading, a 61-year-old resident of Chandhkheda lost Rs 54 lakh of his savings to cybercrooks. According to a complaint filed with Cybercrime police on Tuesday, the victim, a retired professional, came across an online advertisement on a video-sharing platform on Dec 11. It claimed that farmers and retired individuals could earn high returns through trading and that registration was closing soon. After clicking on the link, he was directed to a website where he filled in personal details, including his name, address, mobile number, email ID, and tax identification details.Soon after, he received calls and messages from people claiming to be managers and financial advisers of an investment firm. They persuaded him to invest Rs 21,071 initially through an online transfer. He was later added to messaging groups and provided links to trading platforms, along with documents purportedly showing regulatory registration certificates.To gain his trust, the fraudsters allowed him to withdraw a small amount of about Rs 906 as profit. Encouraged by this, he invested larger sums between December 11, 2025 and January 20, 2026. Police said the victim transferred money in multiple transactions to different bank accounts provided by the accused. The total amount transferred was Rs 53,70,469.When the sexagenarian later attempted to withdraw his investment along with the promised profits, he was told that the funds were sent through an international bank and that he needed to pay a “declaration fee” to receive the remittance. Suspicious, he verified the email communication and found it to be fake. Further enquiries confirmed that the trading firm’s identity was falsely represented.Realising he was cheated, he contacted the cyber crime helpline and subsequently lodged a formal complaint.Cybercrime police registered an offence of cheating, criminal breach of trust, and impersonation.
