Chandigarh: Former Punjab IPS officer Amar Singh Chahal is battling for life after allegedly attempting suicide by shooting himself, following a massive cyber fraud in which he reportedly lost over ₹8 crore.
The incident has sent shockwaves through administrative and law enforcement circles in Punjab, once again highlighting the devastating impact of organised cybercrime networks.
According to police sources, Chahal was found in a critical condition at his residence and was immediately shifted to a hospital, where he is currently undergoing treatment. Investigators have confirmed that he allegedly shot himself. His condition is said to be serious.
Patiala Senior Superintendent of Police (SSP) Varun Sharma stated that preliminary investigation points to extreme mental distress caused by financial fraud. A handwritten note recovered from the scene reportedly details how Chahal fell victim to cyber fraudsters posing as wealth management advisors.
In the note, he allegedly mentioned that he was cheated of approximately ₹8.10 crore. Police officials said the fraudsters operated under the name “F-777 DBS Wealth Equity Research Group” and used WhatsApp and Telegram groups to trap investors.
The accused allegedly claimed links with DBS Bank and its CEO, assurances that investigators say were completely false. Victims were lured with promises of unusually high returns through stock trading, IPO allocations, over-the-counter (OTC) trades and so-called quantitative funds.
Authorities believe Chahal invested large sums over a period of time, trusting the fraudulent operation before realising he had been duped. The note seized from the residence reportedly indicates severe emotional distress and points directly to the financial deception as the reason behind his extreme step.
Police have registered a case and initiated a detailed probe to trace the cyber fraud network, which is suspected to have targeted multiple investors across states. Officials have once again urged the public, including retired officials and senior citizens, to exercise caution while dealing with online investment schemes and unverified financial advisors.
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