Just as there are Reebok shoes, there are also “Rebook” shoes. It’s not always necessary to wear the shoes to tell the difference; sometimes, a few clues are enough. Similarly, scammers who use brand names to make money unethically leave hints that vigilant individuals can identify.
Recently, we came across a case where a victim, Kishan (name changed), got scammed by a group named H4 Huge Capital Group (name changed), which claimed to guarantee returns on investment. This, however, turned out to be another scam, leading to losses for thousands of people like Kishan.
Here is a brief summary of the conversation between one of our team members and the victim.
ADB: Hello, how can we assist you?
Kishan: Hi, I need to report a suspicious activity happening in a WhatsApp group related to stock trading.
ADB: We’re here to help. Can you provide more details about what is happening in this group?
Kishan: Sure. The group is called “H4 Huge Capital Group” (name changed). There is someone named Anurag Singh (name changed) who regularly provides UC stocks that supposedly go up by 10-30% daily. People sell these stocks and earn huge amounts. The stocks are easy to buy and sell only through their Huge International Security app, not through regular apps like Dhan or Angel.
ADB: That sounds concerning. Can you explain more about how this group operates?
Kishan: Singh gives 3-5 stock tips at 10 AM, and his assistant helps the group members. Recently, he deposited INR 5,000 into everyone’s account, saying it was for the GTC Global Investment Competition.
He claimed that he is ranked number one in this competition and that we need to vote for him by downloading their app and submitting screenshots of our votes. In return, he provides us with daily stock tips.
ADB: Do you know why he would give everyone INR 5,000
Kishan: He says it’s because he wants to win the competition, which supposedly has a huge prize in the crores. He even said that if we trade with at least INR 100,000, we could earn INR 10,000 per day until October 15. He added INR 5,000 to our app accounts for voting purposes.
ADB: Have you tried to verify the legitimacy of this competition or the app?
Kishan: Yes, I couldn’t find any information about this competition or his name online. However, the UC stocks he suggests do go up as he claims. I’ve observed this since June 6. I invested INR 8,000, but I haven’t tried to withdraw it yet.
When I asked his assistant for their website, she gave me a link that only logs into their app, with no actual webpage. The profile pictures are of foreigners and elderly people, mostly appearing to be abroad.
ADB: This definitely sounds suspicious and potentially a large-scale scam. Do you have any other evidence or interactions saved?
Kishan: Yes, I have all the chat logs, screenshots of the stock tips, and the transactions in the app.
ADB: That’s great. Please send us all the evidence you have collected. Additionally, we strongly advise you to file a complaint in Cyber Crime and then report it in your local police station. Provide them with all your evidence.
Kishan: I will do that. But is it possible to get money back from cyber crime?
ADB: The cyber department check your case and proofs and if they find it valid then they freeze the scammer bank’s account that might help you in getting refund.
Kishan: Okay, Thanks for your support.
ADB: You’re welcome. We’re here to help. Please keep us updated on any developments and don’t hesitate to reach out if you need further assistance.
Kishan: I will. Thank you again.
So, irrespective of who is approaching you it is always important to validate and verify the details. Ask questions and if you find anything suspicious, then report the case immediately.
