₹1 Crore Fraud Case in Ghaziabad: FIR Filed Against Dubai-Based Kingpin and 8 Others
Over 75 victims allegedly duped with promises of 15% monthly returns through fake trading platforms
New Delhi | April 9, 2026: A major fraud case involving nearly ₹1 crore has come to light in the Loni area of Ghaziabad, where around 75 individuals were allegedly cheated by a gang operating an AI-based trading scam.
According to the complaint filed by a local resident, Hina, the accused lured investors by promising high monthly returns of up to 15 percent through online trading platforms. The FIR has been registered against the alleged mastermind Dubai-based Lavish Chaudhary alias Nawab Ali, along with eight other associates.
The complainant stated that her husband was introduced to the scheme through an acquaintance, following which several meetings were organized at hotels and malls to build trust among investors. The accused also conducted online sessions, showcasing fabricated dashboards and returns on platforms such as BotBro, QFX, Yorker FX, and MineCryptos to convince victims.
Believing the scheme to be genuine, the couple mobilized funds from approximately 75 relatives and acquaintances, collectively investing ₹99.31 lakh through individuals identified as Imran, Faisal, Bakir, and Danish. However, no official receipts were issued, and the investments were only reflected through digital entries on the platform.
When the promised returns failed to materialize and the victims demanded their money back, the accused allegedly refused repayment and issued threats.
ACP Loni Siddharth Gautam confirmed that a case has been registered against all nine accused, including individuals from Faridabad, Lucknow, and Delhi. Police have initiated an investigation and are working to trace the network involved in the fraud.
The case highlights the growing concerns around online investment scams and the misuse of digital trading platforms to target unsuspecting investors.
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