The Bilaspur investment scam allegedly lured a farmer with promises of turning ₹10,000 into ₹1 lakh within 24 hours, leading to 160 transactions and losses exceeding ₹21 lakh.

A farmer from Chhattisgarh's Bilaspur district has allegedly lost more than ₹21 lakh in an online investment fraud after being promised extraordinary returns through a Telegram-based trading group. Police have registered a case under cheating and Information Technology Act provisions and launched an investigation into the Bilaspur investment scam.

The victim, identified as 38-year-old Narayan Singh Raj of Bharari Badpara village, reportedly transferred money over several months after being convinced that his investment would generate massive returns through forex trading. According to police, the fraudsters used a Telegram group and repeated profit projections to gain his trust before siphoning off a total of ₹21.32 lakh.

Link Led to Group

Officials said the sequence began on October 28, 2024, when Narayan received an unknown link on his mobile phone. After clicking on it, he was automatically added to a Telegram group operating under the name "India Promo Trading Company".

Members of the group allegedly introduced themselves as representatives of a forex trading firm and claimed they could double investments within a short period. The most attractive promise, according to the complaint, was that an investment of ₹10,000 could generate returns of up to ₹1 lakh within 24 hours.

Such claims persuaded the farmer to begin depositing money through online transfers.

Fake Profits Built Trust

Investigators said the fraudsters appeared to follow a common online scam pattern. After initial investments, the victim was shown virtual profits in his account.

Narayan alleged that at one stage he was shown gains worth around ₹6.80 lakh. The displayed profits encouraged him to invest larger amounts, believing that his money was growing rapidly.

However, when he attempted to withdraw funds, no payment was released. Repeated requests allegedly went unanswered, leading him to suspect fraud.

160 Transactions Recorded

The complaint reveals that money transfers continued for nearly a year.

Between December 2024 and November 2025, Narayan used accounts in India Post Payments Bank, Punjab National Bank and State Bank of India to transfer funds through UPI and other digital payment methods.

Police officials were reportedly surprised by the volume of transactions submitted as evidence. The victim arrived at the police station carrying a 46-page transaction record detailing around 160 separate payments made to accounts linked to the alleged scam.

Investigators are now examining these financial records to trace the recipients and establish the money trail.

Pressure Tactics Used

Preliminary inquiry suggests the fraudsters maintained constant communication with the victim through a Telegram user identified as "Agent Rajesh Pandey".

According to the complaint, the accused repeatedly pressured him to make fresh deposits by claiming that larger investments would unlock higher profits.

One transaction pattern cited by investigators showed how money was collected in quick succession. On January 23, 2025, multiple transfers were allegedly made within minutes, with five payments totalling ₹50,000 completed between 7:45 am and 8:17 am.

Police believe such tactics were designed to create urgency and prevent the victim from reconsidering his decisions.

Cyber Fraud Concerns

The case has once again highlighted the growing threat posed by online investment scams operating through social media and messaging platforms.

Police officials said many fraudsters exploit people's desire for quick financial gains by offering unrealistic returns and false guarantees. Authorities have advised citizens to avoid clicking unknown links and to verify the legitimacy of any investment platform before transferring money.

Cyber experts also caution that several groups claiming to offer forex trading opportunities on Telegram and WhatsApp operate without regulatory oversight and are often linked to fraudulent activities.

Investigation Continues

Pachpedi police have registered a case against unidentified accused persons and initiated efforts to identify those behind the Telegram group. Investigators are analysing digital evidence, bank account details and transaction records as part of the probe.

Officials have urged anyone approached with similar investment offers to report the matter immediately and avoid schemes promising unusually high returns in a short period.