Navi Mumbai: A senior bank officer from Ulwe lost Rs 38.14 lakh after a cyber gang lured him with the promise of 800% returns through a fraudulent online investment scheme. Ulwe police have registered a case against the unidentified accused and launched a probe.
Modus Operandi of the Fraudsters
The 44-year-old victim, a Vice President at a private bank in Mumbai, was targeted in March when he was added to a WhatsApp group. One of the accused, identifying herself as “Naina Bhatia” from Invesco Asset Management India Pvt. Ltd., assured him that the company was SEBI-registered and promised unusually high returns.
How the Scam Unfolded
According to the police, the complainant was convinced because the gang used a professional-looking app and website to show inflated profits. Initially, everything looked genuine to the complainant.
He was later shifted to a Telegram group where members persuaded him to invest in IPO allocations, private placements, and short-term trading. Over time, he transferred Rs. 38.14 lakh into multiple bank accounts. When he attempted to withdraw his money, his portfolio was frozen.
Threats and Coercion
“When he requested funds citing his wife’s medical treatment, they refused and instead pressured him to invest more. Later, he was threatened with jail and even assault at his home and office,” a police officer from Ulwe said.
Fraud Revealed
The fraud came to light when the officer personally visited Invesco’s Mumbai office, only to learn the company had no connection with the scheme.
Following his complaint, Ulwe police registered an FIR against the gang under sections related to cheating, criminal intimidation, and extortion.
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Investigation Underway
“This appears to be the handiwork of an interstate cyber syndicate. A special team has been formed, and efforts are underway to trace the culprits,” a senior Ulwe police official said.
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