Chandigarh, May 4 -- Offering lucrative returns by posing as representatives of an investment banking firm, cyber criminals defrauded a city-based doctor and his wife of Rs.1.4 crore through an elaborate conspiracy.

The complainant, Dr Anupam Lal, a resident of Sector 24-B, alleged that a highly trained group of scammers posed as officials of JM Financial Services, and lured him and his wife into investing in fake Portfolio Management Services (PMS) accounts through counterfeit websites.

The accused operated a WhatsApp group named "W6 Stock Uptrend Club", managed by different individuals. Convincing users that they were investing with JM Financial, they asked them to transfer funds into various accounts, many of which were found to be l...