Punjab: Duped of Rs 8 crore, ex-IPS officer Amar Chahal shoots self

A former senior police officer in Punjab is fighting for his life after allegedly shooting himself on Monday, leaving behind a purported note in which he claimed he had been financially ruined by an elaborate cyber fraud posing as a high-end investment operation.

Amar Singh Chahal, a retired IPS officer, was rushed to hospital in a critical condition, Patiala senior superintendent of police Varun Sharma said. Police said they recovered a handwritten note from the scene, which is now central to both the investigation into the firing incident and the alleged financial scam.

In the note, addressed to Punjab director-general of police Gaurav Yadav, Chahal alleged that he had been cheated of Rs 8.10 crore by cyber fraudsters who masqueraded as professional wealth managers operating under the banner 'F-777 DBS Wealth Equity Research Group'. The group, he claimed, falsely projected itself as being associated with DBS Bank and even invoked the name of its chief executive to bolster credibility.

According to the contents of the note, the fraudsters operated primarily through WhatsApp and Telegram groups, targeting investors with promises of unusually high and “assured” returns. Members were encouraged to invest in stock trading, IPO allotments, over-the-counter deals and so-called 'quantitative funds', a tactic increasingly seen in sophisticated online investment scams.

Chahal wrote that the operators created fake digital dashboards showing inflated profits, gradually winning his trust and prompting him to invest increasingly large sums. Once substantial amounts had been deposited, he was allegedly pressured to reinvest his 'profits' and later told he needed to pay additional charges — described as service fees, taxes and processing costs — to withdraw his money.

Despite making all payments through bank transfers, the note said, no withdrawals were ever allowed. The former officer claimed the scam was highly organised, involving multiple individuals and bank accounts, and suggested that the money trail had been deliberately layered to make detection difficult.

In the note, Chahal urged the authorities to constitute a special investigation team or hand over the probe to a specialised central agency capable of tracking complex financial and digital fraud. He said the scale and coordination of the operation indicated a well-networked cybercrime syndicate rather than isolated actors.

Expressing acute distress, financial devastation and emotional trauma, Chahal apologised to his family and colleagues, writing that he felt ashamed and broken by the losses he had suffered. He maintained that no one other than the alleged scammers was responsible for his decision.

Chahal is also a controversial figure, having been named as one of the accused in the 2015 police firing cases linked to anti-sacrilege protests in Faridkot, episodes that had triggered widespread unrest across Punjab and intense scrutiny of police conduct at the time.

Police said they are examining the authenticity and contents of the note, scrutinising bank transactions, digital communications and other electronic evidence, while separately probing the circumstances of the firing incident. Officials said further action would depend on the outcome of these parallel investigations, even as the case once again highlights the growing reach and devastating impact of organised cyber investment frauds in India.

With PTI inputs