Mumbai Share Market Fraud: Andheri Woman Duped of ₹76 Lakh on Pretext of Hefty Returns

A woman from Andheri was duped of approximately ₹76 lakh by unknown cyber fraudsters who lured her with the promise of high returns on stock investments. The complainant, who holds the position of Vice President at a private company in Navi Mumbai, filed a complaint with the police. An FIR has been registered against the unidentified accused under the Information Technology (IT) Act. The accused convinced the woman that her ₹76 lakh investment had yielded a profit of ₹1 crore, thereby defrauding her. When the accused demanded more money, the woman realized she had been scammed.

The 56-year-old woman, who resides in Andheri, has been working from home since March 2024 due to a leg injury. In the month of April, an unknown person added the complainant to a WhatsApp group. In this group, information was given daily about earning profits by investing in shares. The admin of the group was advising the members to invest in the stock market. As the woman became more interested in the potential returns from stock investments, she discussed it with the admin and downloaded an app. During this period, individuals named Anusuya and Avrajraj Gupta provided her with details about stock market investment plans, encouraging her to invest. Consequently, between April 2 and June 30, 2024, she invested approximately ₹76 lakh in various company stocks.

According to the app, her investments had supposedly yielded a profit of over ₹1 crore. However, when she tried to transfer the amount to her bank account, the transaction did not go through. When she inquired with the admin, she was told that the funds would be transferred after she deposited an additional ₹3 lakh. Doubting the situation, the woman informed her daughter, who then told her that she had been a victim of cyber fraud and advised her to report the incident to the cyber police. The woman subsequently lodged a complaint with the cyber police against the unknown accused.

After investigating the complaint, the police registered a case under Sections 120B, 419, 420, 465, 467, 468, 471, and 34 of the Indian Penal Code (IPC) and Sections 66(C) and 66(D) of the Information Technology (IT) Act. The cyber police are currently investigating the matter.