Mumbai, March 19: A 50-year-old private employee from Parel has fallen victim to a sophisticated cyber fraud, losing Rs 28.37 lakh after being lured into a fake online trading scheme operated in the name of HDFC Securities.
Fraud begins with WhatsApp link
According to the FIR, the complaint, the victim, employed as a senior operator at a private firm, came across a registration link for “free online trading” shared on a family WhatsApp group by his brother in February 2026. The link, purportedly associated with HDFC Securities, was accompanied by screenshots showing profits, which appeared convincing.
On February 14, the victim registered on the link by submitting his mobile number and PAN details. Soon after, he was contacted via WhatsApp by a woman identifying herself as “Sunita Agrawal,” claiming to be a senior securities advisor with HDFC.
She informed him that his application had been received and explained a “block trading” model that promised discounted shares and high returns with minimal charges.
Fake platform and initial gains build trust
The accused then directed him to create a trading account on a suspicious website and instructed him to deposit Rs 10,000 as an initial investment. He was further guided by a so-called “customer service” contact, who shared bank account details on what appeared to be a SEBI letterhead, allegedly signed by an official.
Trusting the documents, the victim transferred funds via UPI to multiple bank accounts. Initially, smaller withdrawals of Rs 10,000 each were successfully credited to his accounts, reinforcing his trust in the platform. Encouraged by this, he continued investing larger sums.
He later purchased shares of Power Grid Corporation Limited through the platform and observed consistent “profits” reflected in his trading account. However, when he attempted to withdraw a substantial amount, he was asked to pay additional charges, including a 20% commission fee and 15% short-term capital gains (STCG) tax.
Fraud exposed after withdrawal blocked
Despite paying these charges, the victim was unable to withdraw his funds. The fraudsters then claimed that withdrawals were blocked until his “referrer” also paid a commission fee. This raised suspicion, prompting him to verify with his brother, who also began doubting the scheme.
Between February 12 and March 15, 2026, the accused used multiple mobile numbers and WhatsApp communication to impersonate HDFC Securities officials, create a fake trading interface, and send forged SEBI documents to gain the victim’s trust. He was ultimately duped into transferring a total of Rs 28,37,609.
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Case registered, police issue warning
The victim has submitted chat screenshots as evidence, and a case has been registered against unknown persons at the Central Region Cyber Police Station. Further investigation is underway. Police have cautioned citizens against investing through unverified links or relying on unsolicited messages on social media and messaging platforms.
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