Mumbai: 44-Year-Old Borivali Resident Duped Of ₹1.53 Crore In Fake Stock Trading Scam Via WhatsApp Group

Mumbai: A shocking cyber fraud case has come to light where a 44-year-old resident of Borivali was duped of ₹1.53 crore by scammers posing as investment advisors. The victim was automatically added to a WhatsApp group named "J.P. Morgan India Stock Research Centre" where he was lured into fake investment schemes.

About The Case

The victim filed a complaint with the North Cyber Police Station. Initial investigations revealed that three unidentified individuals convinced him to invest, promising high returns. Initially, the victim invested a small amount, ₹50,000, based on stock trading tips shared in the WhatsApp group. He has shown a modest return on Webpage, which built his trust. Following this, he started investing larger amounts.

The scammers used a website, morgans-s.vip, to showcase the victim's supposed stock trading profits. Over time, the victim invested ₹92,50,000 between October 16, 2024, and October 25, 2024, with the website displaying a cumulative return of ₹1,07,03,524. The scammers, led by a person identifying herself as Nita Sharma, provided various beneficiary bank accounts for depositing the funds. This steady stream of false profits reinforced the victim's confidence, leading him to make further investments.

When the victim attempted to withdraw his earnings, he was unable to do so. Realizing he had been defrauded, he approached the cyber police, who registered a case against three unidentified individuals.

Cyber Police Said, between September 13, 2024, and November 16, 2024, an individual was added to a WhatsApp group titled "131 J.P. Morgan India Stock Research Centre" without their consent. The group's admins, identified as Neeta Sharma and Chief Strategy Officer Sanoke Vishwanathan, allegedly coerced the complainant into creating a virtual account on a suspicious webpage, https://morgans-s.vip.

The accused persuaded the victim to input personal information on the webpage under the pretext of providing stock trading tips. They guided the victim in activities such as stock trading, IPO purchases, OTC trading, and quantity trading, leading to payments into various unknown bank accounts. The total amount involved in the fraud amounts to ₹1.53 crore.

A complaint has been lodged against the accused individuals and others who facilitated the scam, including those providing bank accounts, SIM cards, and creating the fraudulent webpage. A criminal case has been registered at the Cyber Police Station for further investigation