Ex-IPS Dies By Suicide After ₹8.1 Cr Cyber Fraud
Chahal, a former Inspector General of Police in Punjab, was rushed to hospital in a critical condition: Patiala senior superintendent of police Varun Sharma
NEW DELHI: Former IPS officer Amar Singh Chahal allegedly shot himself with the rifle of his security guard on Monday, claiming in a purported suicide note that he had been duped of ₹8.10 crore by cyber fraudsters posing as wealth management advisers.
Chahal, a former Inspector General of Police in Punjab, was rushed to hospital in a critical condition, Patiala senior superintendent of police Varun Sharma said.
Chahal was among the accused in the 2015 police firing cases linked to the anti-sacrilege protests in Faridkot.
According to police, a 12-page note addressed to Punjab DGP Gaurav Yadav was recovered from the scene, indicating that Chahal was a victim of an alleged large-scale financial fraud.
In the note, Chahal alleged that cybercriminals operated through WhatsApp and Telegram groups under the name “F-777 DBS Wealth Equity Research Group”, falsely claiming links with DBS Bank and its chief executive.
“With great sorrow, pain and despair, I have to bring to your kind notice that I have been cheated by these cyber thugs posing as wealth equity advisors to the tune of ₹8.10 crore,” the note stated. He added that he regretted not exercising due caution while investing his money.
The fraudsters allegedly lured investors by promising unusually high returns through stock trading, IPO allotments, OTC trades and so-called “quantitative funds”. They reportedly claimed to represent the DBS Group, which they said was authorised by the Government of India and SEBI to guide retail investors.
According to the note, fake online dashboards were created to show inflated profits, gradually building confidence and prompting investors to deposit large sums. Chahal claimed he was repeatedly pressured to reinvest profits and later asked to pay hefty “service fees”, “taxes” and other charges running into several crores to enable withdrawals.
Despite making all payments through bank transfers, withdrawals were never processed, he alleged. Describing the scam as highly organised, involving multiple bank accounts and individuals, Chahal urged authorities to constitute a Special Investigation Team or hand over the case to a specialised central agency to trace the money trail.
“Since this is a very sophisticated group of scammers, only a dedicated SIT can unearth the network. If found appropriate, the case may even be entrusted to the CBI or a specialised cell of the Punjab Police,” he wrote.
Expressing deep financial distress and emotional trauma, Chahal apologised to his family and colleagues, saying he felt devastated and ashamed. He stated that no one other than the alleged fraudsters was responsible for his decision and noted that he used his gunman’s rifle as he did not possess a personal weapon.
Police said investigations are under way into both the firing incident and the alleged cyber fraud. Officials are examining the recovered note, bank transactions and digital evidence as part of the probe.
