A former Principal Chief Conservator of Forests from Tamil Nadu, Krishnan Kumar Kaushal, has found himself in a dire situation after losing a substantial amount of Rs 6.58 crore to cyber fraudsters. The 60-year-old retired Indian Forest Service (IFS) officer fell victim to scammers posing as share trading apps, who enticed him with promises of high returns on investments.
Kaushal, who hails from Himachal Pradesh, first encountered the fraudsters through WhatsApp messages in December 2024. These messages offered him attractive returns on his investments, leading him to download two apps – SMC Apex and Shanda Capital – to kickstart his trading activities. Between the beginning of 2025, Kaushal transferred a total of Rs 6.58 crore to the scammers’ bank accounts, believing he was engaging in legitimate investments.
However, doubts began to creep in when Kaushal noticed discrepancies in the transactions. He observed that the recipients of his payments were situated in different parts of the country and were associated with businesses unrelated to finance, such as furniture and other services. Upon conducting further scrutiny, he uncovered that the stock prices displayed on the apps were artificially inflated and did not align with the official values on the National Stock Exchange (NSE) or Bombay Stock Exchange (BSE).
“Daily share values were being manipulated within the app, painting a false picture of returns. When cross-referenced with official platforms, the discrepancies were glaring,” Kaushal disclosed in his complaint.
Realizing that he had fallen victim to a sophisticated scam, Kaushal wasted no time in reporting the incident to the 1930 cybercrime helpline. Subsequently, the Chennai Police Cyber Crime wing launched an investigation into the matter based on his complaint.
This unfortunate incident sheds light on the rising trend of online financial fraud in Tamil Nadu. In 2024 alone, official statistics reported losses exceeding Rs 1,100 crore to cyber fraudsters in the state. With this concerning surge in fraudulent activities, Tamil Nadu police have been actively cautioning the public against falling prey to similar scams and emphasizing the importance of remaining vigilant while engaging with online investment platforms and trading apps.
As the investigation into Kaushal’s case progresses, authorities are urging individuals to exercise prudence and conduct thorough due diligence on the legitimacy of any investment opportunities before transferring funds. The cautionary tale of Kaushal serves as a stark reminder of the dangers lurking in the digital realm and the imperative need for heightened awareness and vigilance in safeguarding oneself from financial scams.