For a 60-year-old man from Valad, Gujarat, it all began with a promise of easy profits. A seemingly harmless message on investment landed on his WhatsApp.
Trust grew and the numbers on the screen soared. It was too fast, too good, too perfect.
Then the calls went silent, the app vanished, and the shocking truth arrived.
The man realised he was stripped of Rs 2.52 crore. According to reports, it was a meticulously engineered WhatsApp-based stock market scam that took root in April 2024. It began with a YouTube video link.
Tempted by small, early gains shown on the fraudulent UK-IND Fast Trading app, the victim reportedly escalated his investments from an initial Rs 5 lakh to a staggering Rs 2.52 crore.
The app brazenly displayed fictitious profits amounting to Rs 33 crore, only for the fraudsters to demand a Rs 66 lakh “brokerage fee” to release the funds. The illusion collapsed the moment customer care numbers went unanswered, laying bare the deception.
The victim identified multiple suspects — Nitin Sharma, Yashvi Jain, Nikita Jaiswal, Tejas Kumar Jain, and several bank account holders operating under the false claim of SEBI registration through Yashvi Company.
He lodged formal complaints with the Valsad Cyber Crime Branch, the Gandhinagar CID Crime Cyber Police Station, and the national Cyber Helpline.
As of December 2025, police investigations remain ongoing, with no arrests reported, even as Gujarat witnesses a troubling rise in similar cases that disproportionately target elderly individuals.
The fraud unfolded innocuously. Seeking financial stability in his later years, the retiree clicked what appeared to be a harmless link beneath a YouTube video promising stock market guidance. Almost immediately, a message arrived from an unknown WhatsApp number asking, “Do you want to invest in the stock market? And what type of stocks do you want to invest in?”
Curious and hopeful, he responded affirmatively and was promptly added to a private WhatsApp group animated by purported market experts dispensing “hot tips.” The scammers carefully staged small initial profits to secure his trust. Soon after, a man posing as Nitin Sharma contacted him directly, urging, “Invest more, I will build your portfolio.”
Convinced, the victim downloaded the UK-IND Fast Trading app as instructed. The platform convincingly mimicked legitimate trading applications. Another individual, identifying himself as Tejas Kumar from Yashvi Company, supervised the deposits. The investments began at Rs 5 lakh, rose to Rs 10 lakh, and ballooned to Rs 20 lakh by May 2024.
The app’s interface gleamed with soaring virtual profits, eventually showing an astounding Rs 33 crore. This fabricated success fueled dreams of a secure retirement, illustrating how calculated deception weaponises ordinary technology to devastate trusting individuals. Over just a few months, the Valsad resident poured his life savings into the scheme.
The fraud unravelled when he attempted to withdraw his supposed earnings. Instead, he was confronted with a demand for a Rs 66 lakh brokerage fee, an amount beyond his reach.
His objections were ignored. The listed customer care number rang endlessly, unanswered, obliterating the remaining façade.
Alarmed, members of his family and friends intervened, urging immediate verification. This prompted swift complaints to cybercrime authorities. Officers from the Valsad Cyber Crime Branch are now tracking digital trails, including the fake app’s servers, associated bank accounts, and communication records, in coordination with the Gandhinagar CID.
The case aligns with a disturbing trend across Gujarat, where fraudulent WhatsApp groups have ensnared dozens in recent months — from Ahmedabad businessmen losing lakhs to Vadodara residents cheated of crores — frequently under false claims of SEBI legitimacy.
Cases like this lay bare the darker underside of unchecked digital promises, where greed masquerading as opportunity feeds on hope, fractures families, and erodes trust while simultaneously reinforcing the urgent need for awareness, accountability, and collective resolve.
The episode should serve as a wake-up call for senior citizens overeager to invest to secure their lives post-retirement. Often, they miss doing the thorough checks like checking the relevant apps on Play Store or activating banks in the event of large or suspicious transactions.
- FRAUD PREVENTION CHECKLIST
- • Verify investment platforms only via official SEBI or RBI websites
- • Never trust unsolicited links, messages, or WhatsApp groups
- • Enable two-factor authentication on all banking apps
- • Use strong, unique passwords
- • Never share OTPs or personal details
- • Install reputable antivirus software
- • Keep devices updated at all times
- • Beware of fake apps like UK-IND Fast Trading
- • Treat WhatsApp or YouTube investment pitches with suspicion
- • Pause, verify, and cross-check with family or certified advisors
- • Genuine brokers do not guarantee quick profits or charge upfront withdrawal fees
- • Report fraud immediately at cybercrime.gov.in or call 1930
Also Read: Cyber Crime Strikes Again; Man Loses Rs 9.7 Lakh In Sim Fraud https://www.vibesofindia.com/cyber-crime-strikes-again-man-loses-rs-9-7-lakh-in-sim-fraud/
