Mumbai Businessman Loses ₹3.43 Crore In WhatsApp Share Trading Scam; Fake Apps Showed ₹44 Crore Profit

Mumbai: A 54-year-old businessman from South Mumbai has allegedly been cheated of Rs.3.43 crore in an online share trading scam operated through WhatsApp groups and fake investment applications.

Initial Contact Made Through Unsolicited WhatsApp Message

The complainant, Rupesh Chhotalal Shah (54), a resident of Nepean Sea Road, stated to police that he has been engaged in share market trading for the past 10 years and has basic knowledge of stock investments. On December 15, 2025, while searching online for investment opportunities, he received a WhatsApp message from a mobile number, seeking his personal and investment details. He shared his name, mobile number, investment capacity, and expected returns.

Subsequently, a woman identifying herself as “Nisha Mishra” contacted him via WhatsApp call and persuaded him to invest in share trading through their firm, assuring high returns. He was later added to a WhatsApp group named “D7 FYERS Securities Private Limited,” where an individual identified as “Subroto Bhowmik” acted as the group administrator along with other members. The group regularly posted stock market tips, screenshots of profits, and investment updates, which gained the complainant’s confidence.

Fake Investment Apps

The accused allegedly shared multiple application links, including websites such as main.fyerssuperb.net, fyers-pro.vip, profyers.com, seec.us.cc and sose.us.cc, and instructed him to install the apps through which his investments would be managed. The complainant stated that he was provided with login credentials and was shown a portfolio reflecting substantial profits.

Between December 15, 2025 and February 2, 2026, acting on the instructions of the accused, Shah transferred a total amount of ₹3,43,75,000 from his IndusInd Bank savings account to various bank accounts provided by them, purportedly for block trading, IPO purchases, and share investments.

Withdrawal Request Triggered Demand for ₹4 Crore

On February 3, 2026, when he placed a withdrawal request to redeem part of the displayed profits, he received a call from another number, claiming to be from the customer care department of “D7 FYERS Securities Private Limited.” The caller informed him that he had allegedly earned a profit of ₹44 crore and was required to pay 10% tax amounting to ₹4 crore before the funds could be withdrawn.

Suspecting fraud, Shah consulted his Chartered Accountant, who clarified that no such tax payment was required for withdrawal and informed him that he had likely been cheated. Realizing the fraud, he lodged a complaint on the National Cyber Crime Helpline 1930 and received an acknowledgement number. Based on his complaint, a case has been registered at the South Region Cyber Police Station against the individuals who contacted him via WhatsApp and the holders of the bank accounts where the funds were transferred. Further investigation is underway.

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