Mumbai: Cyber fraudsters have allegedly cheated a retired Central Goods and Services Tax (CGST) Superintendent of Rs9.70 lakh by luring him with promises of high returns through online share trading. The Vikhroli police have registered a case against unidentified mobile number holders, WhatsApp group administrators, app and link operators, and beneficiary bank account holders, and further investigation is underway.
WhatsApp Groups Used to Lure Victim
According to the FIR, the complainant, Naresh Yashwant Shinde, 61, resides at Kannamwar Nagar No. 1 in Vikhroli (East). He retired from his post as CGST Superintendent in July 2024. On November 25, he was added to a WhatsApp group named, Ventura Securities Limited CLUB-60, which had 86 members. The group was allegedly administered by a person using the name Siya Arora, along with several Indian and foreign mobile numbers, including one from New York.
Members of the group regularly shared information about stock market investments, recommending shares of various companies and explaining how profits could be earned through trading. Interested in investing after retirement, Shinde filled out an application form shared within the group. On December 13, Siya Arora shared a link in the group.
After clicking the link, Shinde was prompted to download an application named VSLNHW. He was guided to register on the app and was given instructions on how to invest in the stock market. The next day, he was added to another WhatsApp group titled, Siya Arora VIP Exclusive Service Team-68, which had only four members—three of whom used the same name, Siya Arora.
App Download and Investments
The fraudsters informed Shinde that he could invest by transferring money to bank accounts shared through the app, and that the invested amount would reflect as available balance in the app’s asset section. Trusting their assurances, Shinde transferred a total of Rs9,70,056 from his SBI account at Vikhroli (East) between December 14 and December 29, 2025.
On December 29, when Shinde checked his account on the app, he found that his funds had been invested in an IPO named Nanta Tech without his consent and that his balance had dropped to zero. When he attempted to withdraw the money, his request was rejected. The accused then allegedly pressured him to invest more money and purchase a new IPO, which Shinde refused.
After informing his son, Shinde realized that he had been cheated. He subsequently lodged a detailed online complaint with the cyber helpline number 1930 and later approached the Vikhroli police station to file a formal complaint.
Based on the complaint, the police have registered a case under relevant sections of the Bharatiya Nyaya Sanhita (BNS) Act, and the Information Technology (IT)Act. Further investigation is in progress to trace the accused and recover the defrauded amount.
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