64-Year-Old Thane-Based Businessman Duped Of Over ₹1 Crore In Stock Market Scam

64-Year-Old Thane-Based Businessman Duped Of Over ₹1 Crore In Stock Market Scam

A 64-year-old businessman lost over Rs1 crore in a fraudulent shares investment scheme. The scammers added him to a fake WhatsApp group promoting share market investments and induced him to download a fraudulent trading app.

Somendra SharmaUpdated: Monday, April 28, 2025, 10:30 AM IST
article-image
64-Year-Old Thane-Based Businessman Duped Of Over ₹1 Crore In Stock Market Scam | File Pic (Representative Image)

Mumbai: A 64-year-old businessman lost over Rs1 crore in a fraudulent shares investment scheme. The scammers added him to a fake WhatsApp group promoting share market investments and induced him to download a fraudulent trading app.

About The Case

The complainant, a Thane-based medicine businessman, was first contacted by a scammer on December 29, who invited him to invest in the stock market. After agreeing, his number was added to a group where investment tips were shared.

The scammer provided a link to download the app, and between January 9 and February 4, the complainant transferred Rs 1.07 crore in several transactions. When he couldn’t withdraw his earnings, the complainant confronted the scammers, who then began avoiding his calls. Realising he had been defrauded, he filed a police complaint last week.

RECENT STORIES

Mumbai Ganesh Pandal Hopping Guide: How To Visit Lalbaugcha Raja, GSB Seva Mandal & More In One Day

Mumbai Ganesh Pandal Hopping Guide: How To Visit Lalbaugcha Raja, GSB Seva Mandal & More In One Day

NCP Leader Supriya Sule Demands Special Maharashtra Legislature Session To Resolve Maratha Issue -...

NCP Leader Supriya Sule Demands Special Maharashtra Legislature Session To Resolve Maratha Issue -...

Mumbai: Maratha Protesters Involve Foreign Tourists In Stir, Ask Them To Chant ‘Ek Maratha, Lakh...

Mumbai: Maratha Protesters Involve Foreign Tourists In Stir, Ask Them To Chant ‘Ek Maratha, Lakh...

Mumbai Guide: Craving For Zan-Zanit Misal Pav? Check Out BEST Spots In City

Mumbai Guide: Craving For Zan-Zanit Misal Pav? Check Out BEST Spots In City

Maratha Quota Stir Day 3: Jarange Threatens To Give Up Water From September 1; BJP Ministers Raise...

Maratha Quota Stir Day 3: Jarange Threatens To Give Up Water From September 1; BJP Ministers Raise...