67-year-old duped in Rs 82.5 lakh online investment fraud in Mumbai

MUMBAI: A 67-year-old businessman was duped of Rs 82.50 lakh in an online stock trading investment fraud operated through fake WhatsApp and Telegram groups impersonating a reputed financial services company.The victim a Jogeshwari resident came across advertisements in March 2026 on WhatsApp groups titled “BOB Capital Markets Limited,” which promised exceptionally high returns through stock market investments. The groups were allegedly managed by a woman identifying herself as Priyanka Jain and another person named Sanjay.Victim was persuaded to download a mobile application purportedly linked to the investment company and was guided through investments via WhatsApp and Telegram groups.Believing the scheme to be genuine, he transferred funds to multiple bank accounts. After investing Rs 3 lakh initially, the it allegedly displayed a portfolio value of over Rs 3.23 crore. To gain his confidence, the fraudsters allowed a withdrawal of Rs 20,000. Encouraged by the apparent profits, victim continued investing larger amounts, eventually transferring a total of Rs 82.50 lakh.When he later attempted to withdraw his investment and profits, the requests were rejected.

The accused allegedly demanded additional payments in the name of income tax and other charges. Soon thereafter, their phone numbers became unreachable. It was here he realised that he has been duped. He lodged a police complaint with West Region Cyber police.Police have registered a case against the persons operating the WhatsApp and Telegram groups, including Priyanka Jain, Sanjay and the beneficiaries of the bank accounts that received the funds, for allegedly conspiring to cheat the complainant under the guise of stock market investments. Investigations are underway.