Mumbai: Scamsters dupe investors of Rs 10.4L through fake web links

The NM Joshi Marg police have launched an investigation into a case wherein fraudsters had allegedly created a bogus app, web link and telegram IDs of an asset management company and duped seven investors to the tune of Rs10.41 lakh in total. The company, whose name was being used illegally, also learned that in one of the fraudulent web links, the conmen had published an advertisement with a photograph of Prime Minister Narendra Modi, claiming that the company had started a welfare fund in association with the Government of India.

According to the police, the complainant is a senior executive of the company, which provides opportunities to invest in various mutual funds run by the company. On Aug 26, the company received an email from a person informing that unknown persons had created a bogus mobile app in the name of the company and also some Telegram users are misusing the company's logo and trademark.

The company then received several emails from people informing them about the fraudulent apps and Telegram accounts. It also learned that the fraudsters were inducing people to invest in the mutual fund to earn good returns in order to dupe them and thereby tarnished its image. Further inquiries revealed that at least seven people had lost Rs10.41 lakh to the fraudsters. The company officials then approached the police.

A case has been registered under various sections of the Indian Penal Code and the Information Technology Act.