MUMBAI: A 56-year-old travel agency owner from Colaba has allegedly lost ₹4.92 crore in an online share-trading scam after cyber criminals gained his trust by allowing an initial withdrawal of ₹2.97 lakh in purported profits, police said. A 48-year-old employee, whom he encouraged to invest through the same platform, also lost around ₹10 lakh.
According to a report in Hindustan Times, the victim came across a stock-trading advertisement on social media on August 10 and was subsequently contacted by a woman identifying herself as Ananya Sharma. She allegedly added him to a WhatsApp group where investment tips and claims of substantial returns convinced him to invest.
The victim downloaded a trading application and transferred money through RTGS and NEFT into bank accounts provided by the platform. By September 27, he had transferred approximately ₹4.92 crore. Police suspect that the initial withdrawal was deliberately permitted to make the investment platform appear legitimate.
The fraud came to light when subsequent withdrawal requests were rejected. The woman allegedly told him he would have to invest more money to access his funds, prompting him to approach the cyber helpline.
South Cyber police have registered a case involving cheating, forgery and personation, along with relevant provisions of the Information Technology Act.
