Lucknow: A businessman from Gomti Nagar Extension allegedly lost ₹81.41 lakh in an online investment fraud that police suspect is a “pig-butchering” scam, marking what investigators believe is the second such reported case in the city.The complainant, Mahesh Prasad, a resident of Sector-6, told police he was enticed with promises of exceptionally high returns through IPO and share trading schemes. In a complaint lodged at the Cyber Crime Police Station on Sept 29, Prasad said the fraud began on Aug 3 after he clicked a Facebook advertisement related to stock market investments.According to the FIR, Prasad was soon added to a WhatsApp group titled “A103D11 Market Guru”. The group was allegedly administered by a woman who introduced herself as Ananya Kulkarni.Police said the group featured regular posts of trading “tips” and success claims, creating an impression of credible guidance and consistent profits. Members were encouraged to invest with assurances of returns claimed to be as high as 150 times the principal.Prasad alleged that the accused directed him to install a trading application called Finsol Algo using a link shared on WhatsApp after he could not locate the app on Google Play Store. He began with an initial investment of ₹5,000 and was subsequently persuaded to transfer larger sums in multiple transactions. By Aug 27, he had invested a total of ₹81.41 lakh, relying on profits displayed within the app.The application later showed significant gains, and by Sept 7 his account reflected nearly 200% returns, prompting him to attempt a withdrawal. Prasad alleged that when he sought to withdraw funds, the accused demanded an additional payment of 20% of the amount, citing charges and fees. Suspecting fraud, he approached cyber police.Police have registered an FIR and are examining the WhatsApp group, the suspected fake platform, and the bank accounts and financial channels used in the transactions. Investigators said the pattern matches “pig-butchering” scams, where victims are gradually induced to invest more through fabricated profits before withdrawals are blocked.
