Mumbai: A UAE-based senior chemist working with Abu Dhabi National Oil Company (ADNOC) has allegedly been duped of ₹1.24 crore in a stock trading scam after cyber fraudsters lured him into investing through fake WhatsApp groups and a fraudulent trading platform that displayed fictitious profits of over ₹6.19 crore.
North Cyber Police Register Case
The North Cyber Police have registered a case against unidentified persons in connection with the alleged fraud. The complaint was lodged by the victim's 19-year-old son on his father's behalf through the national cybercrime helpline 1930.
According to the FIR, the fraud took place between August 20 and October 6, 2026. The victim, who works as a senior chemist in Sharjah, the United Arab Emirates (UAE), received a WhatsApp message from a woman identifying herself as Ananya Sharma on August 20. She allegedly offered to provide stock market investment tips and invited him to join a WhatsApp group called 'F104 Antara Growth'.
Fake Investment Group Had 96 Members
The group reportedly had more than 96 members, including individuals posing as fund managers, finance managers and investment advisers. Members allegedly shared screenshots of purported profits from stock market investments, encouraging others to invest.
Sharma allegedly claimed to represent Antara India Evergreen Fund and told the victim that the company was a Securities and Exchange Board of India (SEBI)-registered broker offering investment opportunities in initial public offerings (IPOs), rights issues and shares.
Victim Registers On Trading Website
She then directed him to register on a website, stock.antaraevergreenfund.com/batch-trade, to open a sub-broker account. The victim allegedly submitted his passport details, mobile number, email address and other information to complete the registration.
After logging in, he could see stock market graphs fluctuating with market movements, which allegedly convinced him that the platform was genuine. He was subsequently added to another WhatsApp group called 'B203 Antara Rapid Growth Plan', where members and administrators allegedly continued promoting investments.
₹1.24 Crore Transferred to Multiple Bank Accounts
According to the complaint, acting on instructions received through WhatsApp, the victim transferred a total of ₹1,24,90,000 through RTGS and IMPS transactions from his HDFC Bank account to multiple beneficiary accounts between September and October 2026.
The transactions included transfers of ₹25.65 lakh, ₹50,000, ₹50,000, ₹9.50 lakh, ₹10 lakh and ₹34.25 lakh, along with other transactions mentioned in the complaint. The money was transferred to accounts maintained with banks including Federal Bank and Central Bank of India.
The amounts allegedly appeared in the victim's wallet on the trading website. The fraudsters showed him profits from purported stock purchases and sales, with the displayed profit eventually reaching ₹6.19 crore, further strengthening his belief that the investment platform was genuine.
However, when the victim attempted to withdraw his money, the request was not processed. The alleged fraudsters then demanded a fee equivalent to five per cent of the displayed profits as a condition for releasing the funds.
The victim reportedly asked them to deduct the fee from his investment and the profits and return the remaining amount. However, the accused allegedly refused, insisting that the entire five per cent fee had to be paid separately before any withdrawal could be permitted.
Despite repeated messages seeking the return of his investment, the victim was unable to recover the money. His calls to the alleged representatives went unanswered, following which he realised that he had been cheated. The victim subsequently informed his son about the incident. Believing that the platform was associated with an Indian company and that the money had been transferred to Indian bank accounts, the son lodged a complaint through the cybercrime helpline 1930. The North Cyber Police are investigating the case and tracing the unidentified accused and the bank accounts used to receive the money.
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