Navi Mumbai, Jan 22: Kamothe police have registered a case after a 58-year-old doctor was allegedly cheated of Rs 20.95 lakh by a cyber fraud gang that lured him with promises of high returns from share market investments.
According to police, the victim was added to a WhatsApp group by the fraudsters, who shared details of lucrative investment schemes. To gain his trust, the gang sent him a link to a trading application, through which he opened a demat trading account.
The cyber criminals assured him that he could earn profits ranging from 5 per cent to as high as 500 per cent, prompting him to invest money in instalments between November 19, 2025, and January 19, 2026.
Demand for more money raises alarm
When the doctor later attempted to withdraw his invested amount and profits, he was shown technical issues. The fraudsters further demanded an additional Rs 25 lakh, warning that his earlier investment would be transferred to charity if he failed to deposit the amount. Realising that he had been cheated, the doctor approached Kamothe police and lodged a complaint.
Case registered, probe underway
Based on the complaint, a case has been registered against unidentified cyber criminals under Sections 318(4), 316(2) and 3(5) of the Bharatiya Nyaya Sanhita, and Section 66(D) of the Information Technology Act.
“Cyber fraudsters are using sophisticated methods and fake trading platforms to trap investors. Citizens should avoid clicking on unknown links and should not trust WhatsApp groups promising unrealistically high returns. Always verify the authenticity of investment platforms before transferring money,” a Kamothe police officer said.
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Police are conducting further investigations in the case and have appealed to the public to remain vigilant against online investment scams.
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