Online Trading Scam Cheats Varanasi Man of Nearly ₹30 Lakh

A case of large-scale fraud in the name of online trading and gaming investment has come to light in Varanasi. Sanjay Kumar Patel, a resident of Bhaupur village under the Jansa police station area, has filed a complaint against five individuals, accusing them of cheating him of nearly ₹30 lakh.

According to the complaint, the accused identified as Baba Prajapati, Poonam Prajapati, Jayesh, Suraj, and Suresh were frequent visitors to Sanjay’s mobile repairing shop. During casual interactions, they introduced themselves as operators of a trading and gaming company. They allegedly promised investors a monthly return of six percent along with complete security of the principal amount.

Trusting their claims, Sanjay invested money over a period of two years and transferred a total of ₹17.14 lakh online into different bank accounts of the accused. He also encouraged his acquaintances to invest, following which one of his friends invested around ₹17 lakh in the same accounts.

Problems began when investors demanded the return of their money. The accused initially avoided repayment and, after repeated pressure, returned only ₹5.50 lakh, refusing to pay the remaining amount. They continued to assure Sanjay that the money would be returned soon or adjusted against property.

Later, the accused claimed they would transfer ownership of a piece of land in Mohansarai in Sanjay’s name and demanded ₹20,000 for preparing registration documents. Despite receiving this amount through online transfer, neither the land was registered nor was the pending money returned.

When Sanjay pressed for repayment, the accused allegedly abused him and issued threats of serious consequences. As per the complaint, Sanjay was cheated of ₹18.22 lakh, while his friend Sujit Kumar Singh lost ₹11.88 lakh.

Taking cognizance of the matter, Jansa police have registered an FIR against all five accused under sections related to cheating, abuse, and criminal intimidation. Police officials stated that the bank accounts linked to the accused are being examined and legal action will be taken based on the findings.