Mulund-Based Finance Consultant Duped of ₹74.35 Lakh in Online Share Trading Scam

Strategic Insights -

A finance consultant from Mulund, Mumbai, has lodged a complaint with the East Region Cyber Police after being cheated out of ₹74.35 lakh in an online share trading scam. According to the complaint, the victim was approached by a woman named Nikita Sharma through WhatsApp messages, who introduced him to a WhatsApp group named "1103 Premier Tutorial" allegedly managed by Raja Kumar and herself. The group shared trading tips and profit screenshots to lure victims, and the complainant eventually transferred the large sum to multiple bank accounts provided by the fraudsters.

Key Takeaways:

  • A finance consultant from Mulund, Dinesh Ramanlal Panchal, has been duped out of ₹74.35 lakh in an online share trading scam.
  • The scam was allegedly orchestrated by fraudsters posing as stock market advisors on WhatsApp, who introduced Panchal to a WhatsApp group named "1103 Premier Tutorial".
  • The group had over 100 members and regularly shared trading tips and profit screenshots to lure victims.
  • Panchal uploaded his Aadhaar card, PAN card, and bank details to invest in the scam, and transferred the large sum to multiple bank accounts from August 8 to October 3, 2025.
  • The fraudsters used fake websites and cryptocurrency-based money transfers to operate from multiple locations.
  • Police have registered a case under relevant sections of the IT Act against 11 unknown account holders involved in the fraud.
  • The preliminary investigation suggests that the accused operated from multiple locations and used fake websites and cryptocurrency-based money transfers.

Statistics:

  • ₹74,35,000: The amount transferred by Panchal to multiple bank accounts from August 8 to October 3, 2025.
  • Over 100: The number of members in the WhatsApp group "1103 Premier Tutorial".
  • 11: The number of unknown account holders registered in the case of fraud.
  • August 8, 2025 - October 3, 2025: The time period during which Panchal transferred the large sum to multiple bank accounts.
  • October 11: The date on which Panchal approached the East Region Cyber Police Station to file a complaint.

Sources:

  • Indian National Press (Bombay) Pvt. Ltd.
  • Contify.com