New Delhi – The Special Cell of the DelhiPolice has registered a case in connection with a large-scale cyber fraud in which a city-based businessman was allegedly cheated out of ₹4.04 crore through a fake stock trading scheme operated via WhatsApp.
The victim, Akshay Gupta, a resident of Kirari Suleman Nagar in Delhi, filed a complaint claiming he was lured into investing in a fraudulent stock trading initiative promoted through a WhatsApp group named “A5 Wealth Freedom”. The group promised high returns through “QIB trading” on a suspicious trading platform called Galad Arab, allegedly linked to a Dubai-based firm, Galahad Securities Ltd.
According to the FIR, Gupta was deceived into transferring large sums of money to multiple bank accounts across India. Between February and March 2025, he made 27 transactions amounting to ₹4.04 crore.
The suspects, including a man identified as Harry Singh and three associates, reportedly created a false sense of legitimacy using fake social media profiles, market tips, and a counterfeit interface of the trading app. When Gupta tried to withdraw what the app showed as ₹26 crore in returns, he was forced to pay additional amounts under the guise of taxes and was even threatened with fake legal claims involving the FBI.
The fraud, which reportedly occurred between January 1 and April 5, 2025, is said to have spanned multiple locations across Delhi and other parts of India.
Following preliminary findings that confirmed fraudulent activity, the case was forwarded to the Intelligence Fusion and Strategic Operations (IFSO) unit for further investigation. The Special Cell has registered an FIR under several sections of the Bharatiya Nyaya Sanhita (BNS), including Sections 318(4), 319(2), 61(2), and 3(5). The investigation remains ongoing.
