Chandigarh, July 4 -- A 61-year-old resident of Sector 37-D has alleged that he was defrauded of over Rs.52.8 lakh by cyber fraudsters operating under the guise of HSBC Securities, promising high returns through IPOs, block deals, and pull-up stock schemes.

According to an FIR registered on July 2, the victim Guljit Singh Dadhwal, stated that he was added to a WhatsApp group allegedly operated by individuals impersonating officials of HSBC Securities. The group, which had about 80-100 members, frequently discussed high-return investments, leading the complainant to believe he was participating in legitimate trading activities.

The accused instructed Dadhwal to download a fraudulent app-HSSPMA-via a suspicious Google Play Store link, cla...