https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

Retired IFS Officer Loses Rs 6.58 Crore to Cyber Fraudsters Posing as Share Trading Apps

Krishnan Kumar Kaushal, a 60-year-old former Principal Chief Conservator of Forests (PCCF) who retired in July 2024, transferred his entire life savings, retirement benefits, and proceeds from the sale of his house after being deceived by promises of high returns from bogus investment schemes.
Indian Masterminds Stories

Chennai: A retired Indian Forest Service (IFS) officer from Tamil Nadu has fallen victim to a cyber fraud, losing a staggering Rs 6.58 crore to scammers who lured him with fraudulent share trading apps. Krishnan Kumar Kaushal, a 60-year-old former Principal Chief Conservator of Forests (PCCF) who retired in July 2024, transferred his entire life savings, retirement benefits, and proceeds from the sale of his house after being deceived by promises of high returns from bogus investment schemes.

Kaushal, a native of Himachal Pradesh, filed a complaint stating that he first received WhatsApp messages in December 2024, offering lucrative returns on his investments. Following the advice of so-called ‘customer service executives’, he downloaded two apps – SMC Apex and Shanda Capital – to begin his trading journey. Throughout the start of 2025, Kaushal transferred a total of Rs 6.58 crore to the fraudsters’ bank accounts, believing he was making legitimate investments.

However, Kaushal grew suspicious after noticing inconsistencies in the transactions. He observed that the payees were located in different parts of the country, involved in various businesses unrelated to finance, such as furniture and other services. Upon further investigation, he discovered that the stock values displayed on the apps were artificially inflated and did not match the official National Stock Exchange (NSE) or Bombay Stock Exchange (BSE) prices.

“Daily share values were fabricated and orchestrated within the app, giving false indications of returns. When checked on official platforms, the prices didn’t align with real-time market values,” Kaushal explained in his complaint.

Realizing he had fallen victim to a sophisticated scam, Kaushal promptly filed a complaint with the 1930 cybercrime helpline. The Chennai Police Cyber Crime wing has registered a case based on his complaint and launched an investigation into the matter.

The incident highlights a growing trend of online financial fraud in Tamil Nadu. In 2024 alone, over Rs 1,100 crore was reported to have been lost to cyber fraudsters in the state, according to official statistics. Tamil Nadu police have been actively warning the public against falling prey to similar scams, advising vigilance when dealing with online investment platforms and trading apps.

As the investigation continues, authorities urge individuals to exercise caution and verify the legitimacy of any investment opportunities before transferring funds.


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
India’s Missile Strikes on 11 Pakistani Airbases Forced Islamabad Into Panic: Ex-UK Envoy Reveals Secret Saudi Defense Pact
India’s Missile Strikes on 11 Pakistani Airbases Forced Islamabad Into Panic: Ex-UK Envoy Reveals Secret Saudi Defense Pact
Devendra Kumar Tiwari Alka Tiwari  IAS Jharkhand
First IAS Couple in India to Hold Both Chief Secretary & State Election Commissioner Posts Consecutively - Know This Powerful Pair
Policing, Trust, and Investment: Insights from IPF - Indian Masterminds
Indian Police Foundation Marks 10 Years, Discussion on How Policing Builds Investor Confidence
Madhya Pradesh football training
Mini Brazil to Germany: Vicharpur’s Young Footballers Get CM Mohan Yadav’s Blessings on Vijayadashami Week
bureaucracy news
Centre Announces Key Bureaucratic Appointments & Deputation Extensions: Neeraj Surendran, Arun G, Anand Mohan Among Key Names
PM Modi CM Nitish Kumar
Bihar Receives Rs. 10,219 Crore from Centre: A Festive Gift On Vijayadashami to Fuel Development & Welfare, Backed by GST Reforms
Chhattisgarh government
Chhattisgarh CM Charts Development Roadmap: Push for Capital Expenditure, Biometric Attendance, & Transparent Governance
Vishnu Deo Sai CM
Chhattisgarh Gets Rs. 3,462 Crore Boost from Modi Government: Here's How CM Sai Pledges To Spend It!
ADVERTISEMENT
ADVERTISEMENT
Videos
IFS Ravikant Meena UPSC IFS
Ravikant Meena on IFS Preparation, Optionals, and Life in Forest Service
Siddhartha Saxena UPSC CAPF
How Siddhartha Saxena Cracked UPSC CAPF AIR 326 Against All Odds
Dr. S.K
Technology Meets Ecology: IFS Dr S K Srivastava’s Game-Changing Innovations in Forest Management | Eco Warrior Awards 2025 Interview
ADVERTISEMENT
UPSC Stories
UPSC Chairman Ajay Kumar Live Interaction
From Cut-off Dates to Coaching & Reforms: UPSC Chairman Ajay Kumar Assures Aspirants of Fairness, Transparency & a Future-Ready UPSC | UPSC@100
A Century of Service: The UPSC’s Landmark Year Begins. Chairman Ajay Kumar on UPSC’s Centennial: “Merit,...
Giriraj Parihar MPPSC 2024
From Constable to Deputy Collector: Giriraj Parihar’s 9-Year MPPSC Journey | Farmer’s Son, Brother to Five Sisters
From a jail guard to MPPSC 2024 Rank 8, Giriraj Parihar’s nine-year journey of self-study, hard work,...
Ankit MPPSC 2024 Rank 3
From Village Dreams to Deputy Collector’s Chair: Meet Ankit, MPPSC Rank 3 Hindi Medium Topper
Ankit, a Hindi-medium aspirant from Balaghat, secured Rank 3 in MPPSC 2024 and became Deputy Collector...
Social Media
World Rhino Day India
On World Rhino Day, IFS Officer Parveen Kaswan Shares Rare Insights - India Now Hosts 80% of the World’s One-Horned Rhinos
September 22 Marks Global Call for Rhino Conservation; India Holds 80% of World’s Greater One-Horned...
Parag Madhukar Dhakate
Relentless Rains Wreak Havoc in Dehradun: IFS officer PM Dhakate Warns Citizens Amid Flash Floods
Cloudbursts in Dehradun triggered flash floods. IFS officer Dr. PM Dhakate warned citizens to stay indoors...
Forest Guard Tiger Encounter
Tigers Clash in the Wild as Forest Guards Capture Rare Footage , Retired IFS Mohan Pargaien Posts Viral Video
Retired IFS officer Mohan Pargaien shares viral video of three tigers brawling in Ramnagar, as forest...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
India’s Missile Strikes on 11 Pakistani Airbases Forced Islamabad Into Panic: Ex-UK Envoy Reveals Secret Saudi Defense Pact
India’s Missile Strikes on 11 Pakistani Airbases Forced Islamabad Into Panic: Ex-UK Envoy Reveals Secret Saudi Defense Pact
Devendra Kumar Tiwari Alka Tiwari  IAS Jharkhand
First IAS Couple in India to Hold Both Chief Secretary & State Election Commissioner Posts Consecutively - Know This Powerful Pair
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
IFS Ravikant Meena UPSC IFS
Siddhartha Saxena UPSC CAPF
Dr. S.K
ADVERTISEMENT
ADVERTISEMENT