Summary of this article
Retired Aligarh banker loses Rs 1.10 crore to cyber scam
Fraud began with fake high return online investment offer
Victim shared safety tips after reporting case to police
A retired senior citizen banker from Aligarh has lost his entire retirement savings of Rs 1.10 crore in an online investment scam. The victim, Dinesh Sharma, had retired as a deputy general manager from Punjab National Bank.
The scam began on November 2, 2025, when Sharma received a message promising unusually high investment returns, ranging from 30 -40 per cent. The message stated that such profits could be made in a short time through online trading.
How the Scam Progressed
Although Sharma had initially recognised the offer as unrealistic, the fraudsters repeatedly approached him and managed to invite to a WhatsApp group where several people were sharing messages about how they had made a lot of money by following the same investment method.
The group activity gave an impression of legitimacy. The fraudsters then asked Sharma to make a small initial investment of Rs 5,000 as a test amount. After this payment, he was shown returns on an application that seemed to show rapid growth in profits.
These displayed gains persuaded him to invest much larger sums over time. Gradually, the total amount transferred accumulated to Rs 1.10 crore, which included his retirement savings.
Demand for More Money Causing Alarm
After the amount was totally syphoned off, the fraudsters placed another demand of Rs 3 crore saying the amount was needed to release the accumulated returns. At this point, Sharma informed his family about the situation and finally registered a formal complaint with the cybercrime unit of the police.
The police have begun an investigation. Incidentally, the police have repeatedly cautioned against such online frauds, including the tactics used by scammers to target people, especially senior citizens.
How to Stay Safe Online
First, talk about financial decisions openly with family members and not to keep investment activities a secret.
Second, be wary of offers promising unusually high or guaranteed returns, particularly when received through unsolicited messages or social media groups.
Third, act promptly in the event of suspected fraud. Victims should immediately contact cybercrime-helpline or police cyber cell and file a complaint to increase the chances of recovery and investigation.
Cyber scams often start by building trust, making small investments initially, and delayed disclosures, mostly leading to huge financial losses.
