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Mumbai Share Market Fraud Case: Versova Teacher Loses ₹25 Lakh in Fake Stock Market Investment Scheme

By vishal.singh | Updated: December 6, 2024 18:56 IST

In a shocking incident, a 45-year-old teacher from Versova was duped of ₹25 lakh by cyber fraudsters who lured ...

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In a shocking incident, a 45-year-old teacher from Versova was duped of ₹25 lakh by cyber fraudsters who lured him with promises of high returns in the stock market. The victim has lodged a complaint with the Mumbai Cyber Police, which has initiated an investigation.

 

The complainant, who provides private tuition to children, reported that he came across an advertisement on his WhatsApp on September 25, 2024. The ad claimed to offer "higher returns in the stock market." Upon clicking the ad, he was directed to join a WhatsApp group named "Nuvama Professional Clients Group-Elite 8."

 

The group was administered by a person identified as Aniket Nerkar, who regularly posted messages showcasing the supposed profits his company could generate. Later, a woman named Damja Chhamatamat, also a group member, guided the teacher on how to invest.

 

She shared a link, instructing the victim to download an app called "Nuvama Professional Clients Group-Elite 8." After installing the app, the victim was asked to create an ID and password. Aniket then explained the KYC registration process, including linking Aadhaar and a bank account. The victim followed these instructions and linked his bank account to the app.

 

As per further instructions on WhatsApp, the teacher transferred ₹25 lakh across multiple bank accounts as an investment.

 

When he did not receive any returns and the group members stopped responding, he realized he had been scammed. Acting promptly, he approached the Mumbai Cyber Police and lodged a formal complaint.

 

The Cyber Police have launched an investigation and stated that the fraudsters used technology to trap the victim. Officials have also urged citizens to avoid clicking on unfamiliar links and to thoroughly verify information before making significant investments.

 

Tags: Mumbai Newscyber fraudMumbai cyber crimeMumbai cyber policeCyber CellShare Market Fraud
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