Andheri resident loses ₹5.70 cr in cyberfraud | Mumbai news

MUMBAI: A 53-year-old Andheri resident working in an insurance firm was duped of ₹5.70 crore in an online share trading cyber fraud. The professional has been transferring money from September in an app he was asked to download under the assumption that he was investing. A case was registered by cyber police on Saturday in connection with the matter.

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According to the police, the complainant works in an insurance firm. On September 12, he allegedly received a WhatsApp message from someone who went by Aman Malik. Malik offered guidance on stock market investment promising high returns. The victim expressed interest in this and received a call from an unknown person who claimed to be a representative of an investment firm. He then sent him a link to join a WhatsApp group which was named ‘Y21-VIP-WTIC World Top Investor Competition’, where Malik was the group admin. Malik sent messages in the group with tips and guides to invest. Other members of the group allegedly posted screenshots showing they received huge returns on their investments.

Convinced by the screenshots and lured by high returns, the complainant decided to invest through the firm and downloaded an app from a link Malik sent. He transferred ₹5 lakh through the app and in two days, he saw a profit of ₹70 thousand and began trusting the app, said a police officer.

From October 18 to November 8, he transferred a total ₹5.70 crore in over 20 transactions to the scammers. On November 11, when he tried to withdraw money, he was asked to pay more under the pretext of processing fee among others. He found this suspicious and contacted cyber helpline number. An FIR was registered in the West Cyber police station on Saturday and investigation is underway, said the officer.