Kanpur trader duped of Rs 13 lakh in share trading scam; Cyber fraud network spans Delhi to Punjab
A Kanpur businessman lost ₹13 lakh in a fake trading scam, exposing a cyber fraud network with ₹80 crore transactions and links from Delhi to Punjab. Two accused have been arrested.
Kanpur trader duped of Rs 13 lakh in share trading scam (Img: Internet)
Kanpur: A major cyber fraud case has emerged from Kanpur, where a pharmaceutical trader was allegedly cheated of ₹13 lakh under the pretext of high-return share trading. The case has uncovered a wider network of organised financial fraud operating across multiple states.
The victim, identified as Amit Rathore, was reportedly lured through a messaging platform in November 2025 with promises of lucrative returns on stock market investments.
According to police findings, the victim received a link promoting investment opportunities with unusually high profits. After initial interactions, he was persuaded to transfer funds into a specified bank account.
Between November and December 2025, he transferred approximately ₹13 lakh. Initially, the scammers maintained communication and assured profits, but soon after, all contact ceased. The platform became inaccessible, and calls went unanswered.
Investigation Reveals Complex Money Trail
Following a complaint filed in January 2026, police initiated a detailed probe into the financial transactions. Investigators traced the money through multiple banks before it reached an account in Delhi.
The funds were routed through several institutions, indicating a layered system designed to conceal the origin and movement of money.
₹80 Crore Transactions Raise Alarm
During the investigation, authorities discovered that the bank account used in the fraud had handled transactions worth nearly ₹80 crore within a span of less than three months.
The account, registered under a fake business entity, was reportedly operated by individuals based in Punjab. This finding pointed to a large-scale and well-coordinated cybercrime operation.
Arrests and Role of Accused
Police arrested two suspects from Punjab, identified as Karan Kasera and Gulshan Kumar. Officials said the accused were responsible for managing bank accounts, withdrawing funds, and transferring money further within the network.
They allegedly operated under a fictitious firm and acted as intermediaries, earning commissions on each transaction. Several electronic devices, bank documents, and cash were recovered during the arrests.
Wider Network and International Links
Investigators believe the fraud is part of a broader cybercrime syndicate targeting victims through trading scams, gaming apps, and other digital schemes.
Authorities have also flagged possible international connections, with links to individuals outside India. Further investigation is underway to identify the main operators and dismantle the network.
