Navi Mumbai Cyber Fraud: 61-Year-Old Seawoods Senior Citizen Duped Of ₹1.36 Crore In Fake Stock Market App Scam; Case Registered

Navi Mumbai: A 61-year-old resident of Seawoods has been duped of Rs 1.36 crore by a cyber fraud gang who lured him into investing in fake share market schemes through a fraudulent mobile app. The Navi Mumbai Cyber Police have registered a case under fraud and IT Act provisions and launched a search for the unidentified accused.

The incident came to light after the victim, a senior citizen, filed a complaint stating that he had come across a Facebook advertisement related to stock market investments in February this year. After clicking the link and entering personal details, he was added to a WhatsApp group where members appeared to be making high returns on share investments.

Two women, who identified themselves as Priya Sharma and Riya Rawat, guided the victim on how and where to invest. He was also asked to enter further details into a link provided by the gang and download an app named “ASK-IATOP.” The app falsely showed profits on the investments made, which convinced the victim to continue investing.

Between March 17 and April 30, the victim transferred a total of Rs 1.36 crore believing his money was growing. Eventually, the app displayed a supposed profit of Rs 6.08 crore. However, when the victim requested to withdraw his funds, he was told he needed to clear income tax dues first. It was at this point that he realized he had been cheated.

He then filed a complaint on the National Cybercrime Reporting Portal (NCRP) and subsequently at the Navi Mumbai Cyber Police Station. A case has been registered and efforts are underway to trace the cyber fraudsters.

"We are trying to trace the accused and the investigations are on," a police officer from Cyber police station said, adding, "Investment in shares should be made only through authentic source and not through random ads."