Chandigarh Cyber Police Bust ₹3.66-Crore Share Market Scam operating from Tihar Jail

White-collar crime syndicate dupes investors through fake trading app, online manipulation.


In a stunning revelation of white-collar crime in India, the Chandigarh Cyber Police have uncovered a ₹3.66-crore stock market fraud operated from none other than Delhi’s high-security Tihar Jail. The case has brought to light the alarming ease with which criminals can orchestrate sophisticated scams, even from behind bars.

The accused, 32-year-old Chander Mohan Singh, was already lodged in Tihar Jail in connection with other cybercrime-related offences. He was brought to Chandigarh on a production warrant after his involvement was traced in a new case of share market scam.

The investigation began in May 2024 when Surinder Kumar Thakur, a resident of Sector 49, Chandigarh, approached the cybercrime unit with a complaint. Thakur was lured into investing through a fake trading app, SMCLE, a cleverly designed clone resembling a legitimate platform. The fraudsters posed as representatives of SMC Global, a well-known financial services firm, to gain credibility.

Thakur was added to a WhatsApp group in December 2023, where alleged “experts” consistently shared fake but convincing stock market tips and investment advice. Gaining his trust over weeks, the scammers eventually convinced him to open a fake “institutional account” under the pretense of offering exclusive high-return opportunities. Once Thakur transferred ₹3.66 crore to the account, all communication ceased — a classic example of a well-planned stock market fraud.

The Chandigarh Cyber Police, with the help of digital forensics, tracked the origins of the fraudulent activity, which led them back to Tihar Jail. Investigations revealed that Singh had access to mobile phones and internet facilities, which he used to operate the scam with outside accomplices. The breach raises critical concerns about security lapses and the growing influence of white-collar crime networks operating from within correctional facilities in India.

Authorities say that more arrests are likely as the network behind this cyber-enabled financial fraud appears to be part of a larger racket, potentially with national and even international links. This case highlights the evolving nature of cybercrime in India and the urgent need for regulatory and technological upgrades in the criminal justice system.

Citizens are being urged to exercise caution before investing online, especially when approached through unofficial channels like WhatsApp or Telegram groups. The Chandigarh Cyber Police are working closely with financial institutions to prevent the proliferation of fake trading platforms and to dismantle syndicates involved in such operations.