Navi Mumbai Cyber Fraud: 65-Year-Old Retired Navy Officer Duped Of ₹2.47 Crore In Fake Investment App Scam; Case Registered

Navi Mumbai: A cyber fraud gang has duped a retired Indian Navy officer from Kharghar of Rs 2.47 crore by luring him into investing in shares with promises of high returns through a fake app in the name of the reputed ABANS company. Navi Mumbai Cyber Police have registered a case under fraud and IT Act provisions and launched a search for the unidentified cyber criminals.

According to the police, the 65-year-old retired Navy officer was added to a WhatsApp group named ‘ABANS Pro’ on January 25, this year. The group members appeared to be stock market investors, claiming to have earned significant profits. Trusting the reputation of ABANS, the officer decided to invest in the company after seeing the group’s discussions. The fraudsters then sent him a link to download the ‘ABANS Pro’ app.

The cyber gang provided daily stock investment tips through the app, particularly about IPO investments. Following their advice, the officer transferred funds to multiple bank accounts provided by the fraudsters. Between February 5 and March 27, he transferred a total of Rs 2.47 crore from his savings account. The app falsely showed his portfolio had grown to Rs 39.43 crore.

When the officer attempted to withdraw Rs 3 crore, he was informed that he needed to pay a 1% service charge before accessing his funds. Upon requesting the charge to be deducted from his profits, the fraudsters insisted on an upfront payment.

Suspecting foul play, the officer searched for ABANS’s official contact details online and called their office, only to learn that he had been scammed. The company informed him that several similar complaints had been reported and advised him to file a police complaint.

The retired officer first registered his complaint on the NCRP portal and later approached the Navi Mumbai Cyber Police, who have now filed a case against the unknown cyber fraud gang and launched an investigation. “We have registered a case and the further investigations are on,” a police officer from Cyber police station said.