64-Year-Old Thane-Based Businessman Duped Of Over ₹1 Crore In Stock Market Scam

Mumbai: A 64-year-old businessman lost over Rs1 crore in a fraudulent shares investment scheme. The scammers added him to a fake WhatsApp group promoting share market investments and induced him to download a fraudulent trading app.

About The Case

The complainant, a Thane-based medicine businessman, was first contacted by a scammer on December 29, who invited him to invest in the stock market. After agreeing, his number was added to a group where investment tips were shared.

The scammer provided a link to download the app, and between January 9 and February 4, the complainant transferred Rs 1.07 crore in several transactions. When he couldn’t withdraw his earnings, the complainant confronted the scammers, who then began avoiding his calls. Realising he had been defrauded, he filed a police complaint last week.