Delhi CA reveals how engineering student vanished after losing Rs 12 lakh on prediction app

Engineering student goes missing after losing Rs 12 lakh online. (AI-generated representative image)

A story from Delhi is raising fresh concerns about the dangers of mobile apps promising quick gains. A final-year engineering student has reportedly gone missing after a series of events linked to a popular “prediction app,” leaving his family shocked and struggling to understand what happened.

Chartered Accountant Nitin Kaushik described the extent of the student’s losses, emphasising how severe the financial impact was on the family. In a post shared on X he wrote, “A final-year engineering student in my city just lost his entire Rs 12 lakh education loan and his father's retirement fund on a ‘prediction’ app.”

He also explained what happened after the student went missing, including the stress the family is facing from lenders and the fact that the student’s location is still unknown. He explained, “He’s gone missing from his hostel, leaving behind his phone and a note. Now his parents are being harassed by private lenders they didn't even know he borrowed from.”

He also pointed out how the financial loss has affected other family plans, including important events like his sister’s wedding, “His sister's wedding, which was supposed to happen next month, is now on hold because the family is broke.”

Kaushik also expressed concern about the way these apps continue to operate despite regulations, pointing to the loopholes that allow them to remain active online, “Despite the ‘official’ bans, these apps just switch to new UPI IDs and Telegram groups every day to bypass the law.”

A final-year engineering student in my city just lost his entire ₹12 lakh education loan and his father's retirement fund on a "prediction" app.

He’s gone missing from his hostel, leaving behind his phone and a note. Now his parents are being harassed by private lenders they… — CA Nitin Kaushik (FCA) | LLB (@Finance_Bareek) February 23, 2026

What are ‘prediction’ apps?

A prediction app is a type of platform where people can bet real money on events with uncertain outcomes, such as sports, the stock market, or other results. These apps often promise quick profits and attract users with flashy ads. Many of these apps are risky and can take advantage of users, especially when they do not have proper permission or regulation.

In August 2025, the Promotion and Regulation of Online Gaming Act was passed to set rules for online money games, which are games played for real money. The law allows e-sports and skill-based social games but aims to prevent gambling addiction and financial problems. Breaking these rules can lead to fines of up to Rs 2 crore.

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