Mumbai: 40-Year-Old Vasai Woman Duped Of ₹50 Lakh In Share Market Scam Via Fake Trading App

Mumbai: A 40-year-old woman from Vasai was duped of Rs 50 lakh in share market investment fraud.

According to the police, the scammers kept fleecing her from July to August 2024 after trapping her on the pretext of 200% returns. The woman finally approached the police several months later after her hopes of getting her money back were dashed.

On June 19, 2024, the complainant came across an advertisement regarding share market investment, while surfing Instagram, said the police. Upon clicking the link, her mobile number got added in a WhatsApp group.

The scammers then asked the woman to download a bogus trading app on her phone and also share her bank account details. The fraudsters lured her with 200% returns and made her transfer Rs 50.06 lakh between July 9 and August 26, 2024.

The complainant kept paying as she could see her 'earnings' rising to Rs 2.71 crore in the bogus trading app. However, on August 28, when she tried to withdraw the money, her requests were repeatedly denied.

When the woman confronted the scammers, she was told that the money would be credited in her account within 24 hours. However, they blocked her number and even removed her from the WhatsApp group. Anxious, she checked the trading app and found that it was no more functional.