According to the police, the first case was that of a 49-year-old resident of Nerul who was duped of ₹2.73 crore between July 4 and October 31. The frauds added him to a WhatsApp group named ‘Nuvama-24 Market Analysis Group,’ where they shared tips and advice for making huge profits on share market investments. Subsequently, he started investing in July this year.
“The victim was asked to download a fraudulent trading app and was made to transfer the money to various bank accounts. When the victim tried to withdraw profits, the portal did not allow it, asking for a huge amount as a processing fee,” said the investigating officer. Realising that it was a trap, the victim approached the cyber police on Monday.
Similarly, in the second case, a 62-year-old Kharghar resident was defrauded of ₹2.68 crore through another WhatsApp group allegedly managed by suspects identified as Anju Mundhra and Suresh Kumar Arora. “The frauds used a fake trading app, ‘Share India,’ and also forged investment statements to convince the complainant to invest,” said a police officer. From April 3 to October 31, the victim transferred the amount to various bank accounts as instructed by the accused. After the withdrawal of profits was blocked and the accused were demanding a huge amount to unlock the profits, the victim realised that it was a scam and approached the cyber police, he added.
“These frauds used cloned trading platforms, WhatsApp groups, and counterfeit customer support channels to target victims across India,” the officer said.
In both cases, the accused have been registered under Sections 318(4) (cheating), 319(2) (cheating by impersonation), 336(2 and 3) (forgery), and 3(5) (organized crime) of the Bharatiya Nyaya Sanhita, along with Section 66(D) (cheating by impersonation through computer resources) of the Information Technology Act.
