Mumbai Man Duped Of ₹94 Lakh by Cyber Fraudsters In Fake Stock Trading Scheme

Mumbai: In a major cybercrime incident, a 54-year-old Kanjur Marg resident fell victim to a massive online share market investment scam, losing Rs 94 lakh over a span of nearly one and a half months. The victim has lodged a formal legal complaint against the perpetrators, detailing a highly coordinated fraudulent scheme that operated via social media and messaging applications.

According to the police, the fraudulent activity commenced between July 30, 2026, and September 10, 2026. While browsing Instagram at his residence, the victim clicked on a video advertisement related to stock market investments to seek more information. Upon clicking the link, his mobile number was automatically added to a WhatsApp group.

Online investment trap

Once inside the group, the victim was targeted by the group's administrators. Operating in collusion, the scammers contacted the victim via WhatsApp, enticing him with promises of extraordinarily high returns if he invested in the share market through them. To execute the fraud, the administrators sent a link to a website, directing the victim to download a fake trading platform.

To build credibility and deceive the investor, the scammers falsified high-profit displays on the trading portal.

Deceived by the scammers, the victim was coerced into transferring a cumulative sum of Rs 94 lakh into various bank accounts provided by the fraudsters.

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Cyber police investigate

The scam came to light when the accused refused to return the invested capital or profits, leaving the victim financially defrauded. The cyber police are currently investigating the designated bank accounts and digital footprints of the accused.

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