Navi Mumbai: Doctor Duped of ₹20.95 Lakh in Fake Share Market Investment Cyber Scam

₹20.95 Lakh Cyber Fraud: Navi Mumbai Doctor Trapped in Fake Share Market Investment Scam

Navi Mumbai, January 22:
In yet another case highlighting the growing menace of cyber-enabled financial crimes, the Kamothe police have registered a case after a 58-year-old doctor was allegedly cheated of ₹20.95 lakh by an organised cyber fraud gang operating through fake share market investment schemes.

How the Fraud Unfolded

According to police sources, the victim was unknowingly added to a WhatsApp group managed by the fraudsters. The group regularly circulated messages claiming to offer exclusive stock market tips, assured profits, and high-return investment opportunities. To create a sense of legitimacy, the accused shared screenshots of fabricated profits and testimonials of fake investors.

To further gain the doctor’s confidence, the fraudsters sent him a link to a fraudulent trading application, which closely resembled legitimate stock trading platforms. Through this application, the victim was guided to open a demat trading account, making the entire operation appear authentic.

The accused promised returns ranging from 5 per cent to an unrealistic 500 per cent, convincing the doctor to invest money in multiple instalments between November 19, 2025, and January 19, 2026.

Withdrawal Blocked, Pressure Tactics Used

Trouble began when the doctor attempted to withdraw his invested amount along with the displayed profits. Each attempt resulted in technical error notifications, which the fraudsters blamed on system issues.

Soon after, the cyber criminals escalated the pressure by demanding an additional ₹25 lakh, claiming it was mandatory to unlock the account. They also threatened that the doctor’s existing investment would be donated to charity if he failed to deposit the amount within a stipulated time.

Realising that he had fallen victim to a well-orchestrated cyber investment scam, the doctor immediately approached the Kamothe police station and filed a formal complaint.

Key Details of the Cyber Fraud Case

Legal Action Taken

Based on the complaint, the police have registered a case against unidentified cyber criminals under relevant provisions of the law, including:

• Sections 318(4), 316(2) and 3(5) of the Bharatiya Nyaya Sanhita (BNS)

• Section 66(D) of the Information Technology Act, which pertains to online cheating and impersonation

Authorities confirmed that efforts are underway to trace the digital trail, including bank transactions, mobile numbers, IP addresses, and the fake trading application used in the crime.

Police Advisory to the Public

Police officials have once again cautioned citizens against falling prey to online investment scams, stating that cyber fraudsters are adopting increasingly sophisticated methods to exploit people.

“People should avoid clicking on unknown links, refrain from trusting WhatsApp or Telegram groups offering guaranteed or unusually high returns, and must verify the authenticity of investment platforms before transferring money,” a senior police officer said.

Conclusion

This case serves as a strong reminder that even well-educated professionals are vulnerable to cyber fraud if promises of quick and guaranteed profits are accepted without verification. With online investment scams on the rise, authorities urge citizens to remain alert, informed, and cautious while dealing with digital financial platforms.

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