Retired Pharma Pro in Ahmedabad Scammed of ₹87L in Fake Stock Scheme

New Delhi, january 05, 2026: In a disturbing escalation of cybercrime in Gujarat’s financial hub, a 60-year-old retired pharmaceutical professional from Ahmedabad’ Satellite area has fallen victim to a sophisticated stock market scam, losing approximately ₹86.7 lakh.

The incident, reported to the Ahmedabad Cyber Crime Cell, highlights the growing vulnerability of even seasoned professionals to high-tech financial fraud.

The Genesis: A Facebook Advertisement

The ordeal began in November 2024 when the victim, who had retired from a long career in the pharmaceutical industry, came across a sponsored advertisement on Facebook. The ad promised “exceptionally high returns” through professional stock market trading and investment strategies.

Given her background and interest in legitimate trading, she clicked the link, which redirected her to a WhatsApp group. This group was designed to look like an official, elite investment advisory platform, complete with “VIP” members and daily tips from purported market experts.

The Web of Deceit: Fake Apps and Artificial Profits

To gain her trust, the scammers utilized a multi-layered approach:

• Platform Manipulation: The victim was instructed to download a specific trading application and register using her PAN and email credentials. This app, though professional in appearance, was entirely fraudulent and controlled by the scammers.
• The “Hook” Strategy: She initially transferred a small sum of ₹5,000. Within days, the app showed her making a substantial profit. To solidify the illusion of legitimacy, the fraudsters allowed her to withdraw ₹37,000, convincing her that the platform was safe and lucrative.
• Massive Capital Transfers: Confident in the returns, the victim began liquidating her savings and even utilized funds from her husband’s bank account. Between November and December, she transferred nearly ₹87 lakh into various bank accounts provided by the “advisors.”

The Cold Reality of the Scam

The fraud came to light when the victim attempted to withdraw her accumulated “profits,” which by then appeared as a massive sum on her digital dashboard. Instead of receiving her money, she was met with demands for:

1. Processing Fees: Large sums required to “release” the funds.
2. Commission Charges: Alleged taxes and service fees for the high profits earned.

When the demands for more money became relentless and the withdrawal requests continued to be denied, she realized she had been snared in a “pig butchering” scam—a tactic where victims are “fattened up” with fake profits before being “slaughtered” for their entire investment.

Legal Action and Investigation

The victim filed a formal complaint with the National Cyber Crime Portal and the Ahmedabad Cyber Crime Cell on Saturday. Authorities have registered a case of cheating and forgery under the relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act.

Preliminary investigations suggest that the funds were funneled into a network of “mule accounts” across different states, making the money trail difficult to track. Cyber experts are currently working to freeze any remaining funds in the linked accounts.