Mumbai Woman Loses Rs.1.55 Crore After Clicking on Instagram Ad
Mumbai Woman Loses ₹1.55 Crore After Clicking on Instagram Ad
This incident serves as an important reminder to exercise caution and verify the authenticity of online investment opportunities.
A woman from the western suburbs of Mumbai recently lost Rs 1.55 crore in a cyber fraud related to investment in online share trading.
The complainant, who is in her 50s, lodged an FIR with the West region cyber police station in BKC on September 5. The crime took place between April 27 and June 11 this year. Investigators have blocked more than 50 bank accounts connected to the accused in the case.
It all began when the woman saw an advertisement on Instagram about online share trading. Intrigued by it, she clicked on the ad and was added to a WhatsApp group with 131 members. The group was managed by an individual named Monica Sharma.
Sharma, posing as a financial expert, convinced the woman to invest in shares through a specific app. She assured her of impressive returns, claiming that investments could yield 100 to 200 percent profit. To facilitate the investments, the complainant was provided with various bank account numbers to transfer money into.
In over 20 transactions, the woman sent a total of Rs 1.55 crore to different accounts. She even took a loan with her sister to fund the investments. Initially, the woman saw her virtual wallet balance grow to over Rs 7 crore, which made the scam seem genuine.
However, when she attempted to withdraw her money, she faced difficulties. The fraudsters offered various excuses and demanded additional payments to release her funds. It was only then that she realized she had been scammed and decided to approach the authorities.
The cyber helpline team managed to block around Rs 10 lakh in the fraudsters’ accounts. The case is now under investigation, supervised by Deputy Commissioner of Police Datta Nalawade and led by Assistant Commissioner of Police Aburao Sonawane. The team also includes Senior Inspector Datta Chavan and Sub-Inspector Rahul Khetre.
This incident serves as an important reminder to exercise caution and verify the authenticity of online investment opportunities.
