Cyber Fraudsters Target Finance Manager, Cheating Him of ₹5.02 Crore

Strategic Insights -

A 35-year-old finance manager from western suburbs fell prey to a sophisticated cyber fraud, losing ₹5.02 crore to fraudsters who lured him into fake stock market investment. The victim reported the incident to the West Region Cyber Crime Police Station, lodging an FIR on October 16. The crime took place between March 28 and October 14 this year.

Key Takeaways:

  • The victim was cheated of ₹5.02 crore by fraudsters who posed as representatives of a US-based mutual fund and an Indian investment banking firm.
  • The accused lured the victim into fake stock market investment through WhatsApp groups and two virtual apps.
  • The victim made 35 transactions to different bank accounts provided by the accused, with the first transaction of ₹1.36 lakh received on August 6.
  • The victim realized he was cheated when the fraudsters refused to give him money after he requested withdrawal of his invested amount.
  • The FIR was lodged on October 16 with the West Region Cyber Crime Police Station, Bandra (West).
  • The complainant stated that his mobile number was added to two WhatsApp groups on March 28, which led to the scam.

Statistics:

  • ₹5.02 crore: the amount cheated from the victim by the fraudsters.
  • 35: the number of transactions made by the victim to different bank accounts provided by the accused.
  • 1.36 lakh: the amount received by the victim in his account on August 6 from one of the companies.
  • 7 crores: the total investments and profits shown in the victim's virtual accounts on October 14.
  • March 28 - October 14: the time period during which the crime took place.

Sources:

  • Mumbai Police's FIR dated October 16.
  • A Times of India article published on [DUPLICATE THE ORIGINAL SOURCE NAME AND DATE].