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Cyber Scammers Dupe Software Engineer of Rs 48 Lakh in Online Share Trading Fraud

Strategic Insights

— 1 min read

A software engineer based in Pimpri-Chinchwad was duped of Rs 48 lakh in an online share trading fraud by cyber scammers who contacted him on WhatsApp, assuring huge returns on investment. The scammers added the victim to a WhatsApp group, asked him to download a fraudulent app called 'MOIA', and transfer money into certain bank accounts. The police have booked one fraudster, Aanya Smith, and others involved in the scam under various sections of the Indian Penal Code and the Information Technology Act.

Key Takeaways:

  • The victim, a 38-year-old software engineer, was contacted on WhatsApp by cyber scammers who promised huge returns on investment in share trading.
  • The scammers added the victim to a WhatsApp group named 'Motilal Oswal Wealth Management D555' and asked him to download the fraudulent app 'MOIA' on his cell phone.
  • The victim transferred Rs 48,38,824 into multiple bank accounts between August 2024 and October 2024, as per the instructions of the fraudsters.
  • The MOIA App showed the victim a profit of Rs 1,31,43,356, prompting him to file a complaint with the Pimpri Chinchwad police.
  • The police have booked Aanya Smith and others involved in the scam under sections 318(4), 316(2), and 2(34) of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act.

Statistics:

  • Rs 48,38,824: The amount the victim transferred into multiple bank accounts between August 2024 and October 2024.
  • Rs 1,31,43,356: The fake profit shown by the MOIA App to the victim.
  • 2024: The two-month period during which the victim was duped into transferring the money to the fraudulent bank accounts.
  • 1: The number of fraudster identified as 'Aanya Smith' booked by the police in this case.

Sources:

  • IE Online Media Services Pvt. Ltd., 2025
  • Contify.com

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