An online trading scam costs a Navi Mumbai woman Rs 2.29 crore.

Navi Mumbai Woman Loses ₹2.29 Crore in Online Trading Scam

Navi Mumbai (Belapur), July 2025:

“A 43-year-old woman entrepreneur from Belapur has fallen victim to an elaborate online trading scam, losing ₹2.29 crore over three months. The fraud was carried out by scammers posing as financial advisors, who manipulated the victim through a fake WhatsApp investment group and a fraudulent trading application.

WhatsApp Group Sparked Interest

The scam began when the woman’s husband was added to a WhatsApp group named “VIP 1 Equity Exchange”, where members appeared to share daily stock market tips and showcase high returns. Impressed by the apparent profits, the couple approached the group for investment advice.

The scammers, claiming to be affiliated with a reputed financial advisory firm, convinced the woman to download a mobile app called “Impv Pro” and follow a structured investment plan. Trusting the advice, she created a trading account and began transferring funds to multiple bank accounts provided by the group. Over a span of three months, the total amount transferred reached ₹2.29 crore.

IPO Demand Raised Suspicions

The fraud was uncovered when the victim expressed interest in an upcoming Initial Public Offering (IPO). The scammers demanded an additional ₹4.18 crore as “processing charges.” Sensing something unusual, the woman consulted her family members, who advised caution.

Upon contacting the official customer support of the financial firm, she was informed that the company does not use any mobile trading applications. Realizing the fraud, the woman filed an official complaint with the Navi Mumbai police.

Case Registered, Investigation Underway

The case has been registered under Section 66(D) of the Information Technology Act, along with Sections 318(4), 319(2), 336(2), and 3(5) of the Bharatiya Nyaya Sanhita. Authorities are actively investigating and efforts are underway to identify the culprits.

 Key Takeaways:

• Be cautious of unsolicited investment groups on WhatsApp.
• Always verify financial apps and firms from official sources.
• Never transfer large sums without written verification.
• If in doubt, consult cybersecurity experts or law enforcement.

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