Indore News: Trader Duped Of ₹65.5 Lakh Via Fake Application; App Shows ₹4 Crore Virtual Profit, Blocks Withdrawal

Indore (Madhya Pradesh): A trader was allegedly duped of ₹65.57 lakh in Indore through a fake investment platform promoted on social media. Cops registered an FIR on Monday based on four mobile numbers.

The victim identified as Deepak Chandore, a resident of Mahesh Avenue, Chhota Bangarda Road, Aerodrome stated in his complaint that back in December 2025, he was watching a reel on Facebook when he saw an advertisement for a trading link.

After clicking on the link, he joined a group called "A69 ABCL Wealth Navigator Club."

Observed activities for a month

Members in the group shared screenshots and messages about profits daily. Short videos and online lectures related to trading were also posted. After observing the activities for about a month, Deepak became convinced that the platform was legitimate and decided to invest.

Fraudster counselled over WhatsApp

After sending a message in this group about investing, a young woman contacted through a WhatsApp number. She explained the process for opening an account and sent a link with the name 'Aditya Birla Capital'.

Following this, Deepak was aked to fill a form and download an application from Play Store for further processing.

Reports reveled that Deepak was informed that all bank transactions could be viewed through the application.

Notably, the fraudsters issued a warning to build trust and advised not to share the ID password with anyone. Initially, a deposit of ₹5,000 was made through the app which made Deepak believe the application even more.

Later from January 29, 2026, the victim began transferring money on regular basis. The fraudster counseled Deepak over WhatsApp, offering investment plans on various platforms.

₹4 crore profit turns out 'Funny Money'

Deepak continued to deposit money as directed by the fraudster. By February 20, the app showed a profit of around ₹4 crore on the invested amount.

When the victim tried to transfer the money from the app to his account, he was given delays citing technical reasons. Later, they contacted him through mobile numbers and lured him into investing in a new IPO.

Even after this, Deepak kept trying to withdraw the money. When the money was not withdrawn, Deepak became suspicious, but by then he had been cheated of ₹65.57 lakh and approached the cyber cell. Police have launched an investigation and are tracing the accused.