Punjab Former IG Suicide Attempt – Full Text of His Distress Note

If a Former IG Could Feel So Helpless, What Hope for Ordinary Citizens?

A SENIOR FORMER police officer — someone who once represented the State’s power to protect — was driven to such despair by a massive cyber fraud that he attempted to take his own life. He survived and is currently fighting for recovery in hospital.

The handwritten note he left behind is more than a personal cry of pain; it is a searing indictment of our cyber policing, institutional response, and the frightening collapse of trust in systems meant to safeguard citizens.

Punjab Today publishes the full text of his note in public interest, because this is not just his story — it is a grim reality we must confront.

Full Text of the Note (Verbatim):

LAST APPEAL
To:
Sh. Gaurav Yadav, IPS
DGP (Punjab)

Subject: Fraud and cheating by cyber criminals posing as Wealth Management advisers by using WhatsApp as “F-777 DBS Wealth Equity Research Group”

Respected Sir,

1) With great sorrow, pain and despair I have to bring it to your kind notice that I have cheated by these cyber thugs posing as “Wealth Equity Advisors” to the tune of Rs 8–10 crores.

2) At the outset I regret that I did not use due caution while parting with my Money. Actually I saw this group very active on WhatsApp and Telegram. They were claiming to be representing DBS Group which is authorised by GOI and SEBI (as per them) to educate and help retail investors earn good money from Capital Markets.

Page – 2
3) Starting around Oct 28, 2023 Dr. Rajat Verma (CEO DBS Bank) or some person posing on his behalf and using his photograph was giving tip on Capital Markets everyday whereby they explained stock market and other factors affecting Indian markets. Anybody could ask a question and he used to satisfy it. It resulted in increase in confidence in the said activity. They also told that initially the first Phase I will last 40 days for retail investors and Dr. Rajat Verma will vet the amounts to be allowed to trade. It was actually a ploy to show how full of genuineness so many people were clamouring for it.

4) After about a week Prof Rajat Verma or somebody on his behalf approved a list and allowed the investors to trade. It created some sort of euphoria (some of it seems to be manipulated by members of the investors group who were planted to market the scheme).

5) Slowly, slowly, people started depositing more and more money. They developed a DASHBOARD which showed 4 leading:

1. Daily trade stock
2. OTC stock
3. IPO
4. Quantitative funds

Each of the scheme carried better returns than the others etc. The screen shots of the dashboards are available.

Page – 3
6) As the movement trickled up in daily trade stock with appreciation of 5% they brought in IPOs which were hitting market. They also claimed the DBS group is given preference lead that the group members applying through group will get highly discounted shares with good allotment. By manipulating the information mechanism they would allot large number of shares where investors will have add more money to fully subscribe to the issue. Since it was one click subscription anybody could be allotted any number of shares.

7) After the IPO they would bring in OTC trade (over the counter) trade where trading starts at 3:00 PM onwards. It again used to be sold at a discount to the prevailing market price, hence made good proposition for investors.

8) Next in the line were the “Quantitative Funds” where it told that lock-in period of 3 days (weekly) will bring at least 40% appreciation. DBS also claimed that if it is not done by market for the DBS make good the profits. Due to which many of the investors huge amounts. Even though now it appears that these were only for these DASHBOARD purposes.

Page – 4
9) Sir, while dishing out IPO details of good companies at a very concessive rate, I was suspecting foul play. So I confronted Dr. Rajat Verma with the facts that while even the big ANCHOR INVESTORS have to pay full price, how come we get at discounted rate, he replied that for big institutional investors the rates are always negotiable. Looks like some body else in place of Mr. Rajat Verma was posing as Rajat Verma.

10) There are details of good numbers of so called investors having deposited money to trade. The receipt of all such payment are in my cell phone saved as chat with
(1) Rajat Verma
(2) Meena Patel
(3) Complete chat of “F777 Wealth Equity Research Group”.
I have also got hard copies of the same printed.

11) Many of the investors also seemed to be part of the racket, because whenever anybody raised suspicion or questioned the DBS system they will jump to the support of the trading programme saying that it is fool proof.

Page – 5
12) To make it look perfectly legal, everyday at 6.30 Mr. Rajat Verma CEO of DBS or somebody posing as him with his photo and give advice for next day’s trade.

13) Everyday MEENA BHATT the so called assistant to Rajat Verma will start morning by 9AM asking investors to increase their investment so as to earn higher profits.

14) Every day they will release one script which would be already near the Upper Circuit to buy and sell it next day at 5% gain.

15) Most of the time the figures coincided with it but the number of shares traded on stock exchanges was much less than these people were saying or selling, claiming it to be “INTERNAL EQUITY TRADE” where there is no limit on number of shares traded.

16) In case of OTC trades (over the counter) which commenced after closing of daily trades the profit margin was shown as 30–40 percent in one or two days.

17) Then they introduced “QUANTITATIVE FUNDS”, where the profit exceeded 50% for a fixed window.

Page – 6
18) The girl Meena Patel (or someone posing as such) continuously urged me not to reduce my holdings as it will affect my profits.

19) When I questioned Dr. Rajat Verma (or someone posing as one) he also said same things and told that many people had larger profits than me.

20) In the beginning of Dec 2023 when I applied for a withdrawal of Rs 5 Cr from my principal they said that my November profits were 52 lacs, so I have to pay 15% service fee on principal + 15% on profits and 3% as tax on profits which came to more than 2.35 Crores. With great difficulty I borrowed from my friends & relatives & cleared the same.

21) Again when I asked for withdrawal in Dec 2023, they said it is now coming to close. On 12th Dec 2023 for all the dues have to be cleared to withdraw money. All the demands came close to another 2 crores rupees. After that they said my annual fee for premium membership is 20 lacs which has to be paid. I cleared the same also.

Page – 7
23)At one point when I persisted with Dr Rajat Verma for early withdraw he suggested to pay bribe of Rs 10 lacs to lower level functionaries who will fastten it up. I was coaxed to do that.

24) On the last day of trade cycle Mr Verma announced that they will have celebratory Press meet at Mumbai on 30th Dec. The best 50 investors will be flown to DBS HQ in Singapore to study the whole system. All the expenses will be born by the DBS Group.

25) Many participants were requesting that their names be included in the lists. It appears they were all part of the “NETWORKS”.

26) Similar case has been reported from Andhra Pradesh where a retired engineer has been duped of more than one crore of Rupees.

Page – 8
27) Sir I have made all the payments through Bank transfers, where the details of the Beneficiaries, Banks account Numbers and bank addresses are given also with IFSC addresses.

28) Sir, I have made transfers from three of my Bank accounts as follows:

1. Axis Bank – A/c No. 15501000116824
Urban Estate Phase-II, IFSC code UTIB0002034, Patiala
2. HDFC Bank – A/c No. 14591050003041
Urban Estate Phase-II, Patiala
IFSC code HDFC0000330 Chotti Baradari Patiala
3. ICICI Bank – A/c No (1) 079001003222
(2) 008201516699
Urban Estate Phase-II, Patiala
IFSC code ICIC0000790

29) As I have the misfortune of transferring more than 8 cr of funds. My own share is approximately one & 1 cr whereas rest were borrowed from friends and relatives which is more than 7 cr plus. I am totally devastated and so will my family be once they come to know about it. Thinking that I can arrange good future for them I got trapped. I have been taking medicines for depression without knowledge of my family.

Page – 9
30) It is totally my stupidity and carelessness where I believed strangers. Now I am not able to show my face to the friends and relatives. Nor I am able to pay them their dues. Even all my family assets will hardly be able to make up for this amount. In this situation I am left with no choice except to take my own life.

31) “Except for these Scammers” there is no one else responsible for it. I love my family and I am ashamed that I am leaving them in this agony.

32) Sir, I request your goodself to kindly register a case of fraud scam leading to my murder against these scoundrels. If possible please ensure recovery of my funds by constituting a SIT of suitable officers and staff so that these people are brought to book.

33) I know I will not be around to hear the results but my spirit will pray for you, your family and Punjab Police.

Page – 10
34) Apart from this kindly allow a team of 3 police Pos/Guards with my family for a period of 3–4 years from now, when they are able to come out of the shock.

35) Also I request yourself to impress upon all the persons from whom I borrowed money, not to harass my family. They will probably settle everything by selling our land and other assets as best as they can in the shortest possible time when they are out of the shock.

36) I have saved all the chat with these scammers namely

1. Rajat Verma
2. Meena Bhatt
3. Whats Group “F 777 Wealth Equity Research Group”

I have also made hard copies which available at my study table. The saved chat is available in Mobile phone under the Name “AMAR”. I have told password to the cell phones to my family, wife, son & daughter inlaws. END OF NOTE

Editorial Disclaimer

Punjab Today is publishing this handwritten note in full, in the larger public interest. The purpose is not to sensationalise personal anguish or to romanticise self-harm.

Also Read: DIG Bhullar Case: Silence That Speaks Volumes

This document speaks to systemic failures, the scale of cyber fraud, and the collapse of institutional trust that can push even senior, resourceful citizens to extreme despair. It is published to provoke accountability, reform, and awareness — not voyeurism.

If You Need Help

If you or someone you know is overwhelmed by financial distress, cyber fraud trauma, or emotional crisis, please seek help. You are not alone, and support exists.

Reach out to trusted family, friends, mental health professionals, or available crisis assistance services. Seeking help is an act of courage — not weakness.

Follow-up Journalism Commitment

Punjab Today will continue to follow this case and examine the serious questions this note raises — about cybercrime enforcement, policing systems, banking responsibility, and how society treats victims of fraud and psychological devastation.

This is not just about one individual; it is about whether our systems are capable of protecting citizens with dignity, speed, and empathy.
________
Also Read:

DIG Bhullar Case: Silence That Speaks Volumes

Holy City or Holy Confusion? Punjab Notification Collides with Law, Rights and Sikh Doctrine

 

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