Clicked An Ad, Lost Rs 52 Lakh: Kerala Man Falls Victim To WhatsApp Trading Scam

Last Updated:June 04, 2025, 14:31 IST

The victim was lured into the trap after clicking on a seemingly legitimate advertisement that appeared to be endorsed by a well-known financial influencer on Facebook

Through 12 transactions from May 13 to May 31, he continued to deposit more money into various accounts provided by the scammers, amounting to a staggering Rs 52.85 lakh.

In a disturbing case of cyber fraud, a resident of Muvattupuzha in Kerala was duped of Rs 52.85 lakh over a two-week span after falling prey to an elaborate stock market scam orchestrated through WhatsApp. The victim was lured into the trap after clicking on a seemingly legitimate advertisement that appeared to be endorsed by a well-known financial influencer on Facebook.

The ad promoted a trading platform that claimed to offer high returns through bulk share trading (block trading) conducted after regular market hours. Intrigued, the man clicked on the link, which redirected him to a WhatsApp group titled ‘Money Fi Tata Capital’. From there, the fraud unfolded quickly.

Shortly after joining the group, he was contacted by individuals posing as financial advisors. A woman who identified herself as Anushka De and a man claiming to be Jain engaged with him over phone calls. To bolster credibility, the scammers even used a fabricated LinkedIn profile of Rohit Malvankar, allegedly the Deputy Vice President of Tata Capital.

The victim was instructed to deposit funds into the account of a firm called Data Tech Technology India Private Limited. Believing it to be a legitimate investment, he transferred Rs 2 lakh on May 13 as the initial payment.

The next day, after being shown fake records of profits earned, he transferred another Rs 3 lakh. Over the next several days, through 12 transactions from May 13 to May 31, he continued to deposit more money into various accounts provided by the scammers, amounting to a staggering Rs 52.85 lakh.

The fraudsters did not stop there. They demanded another Rs 80 lakh, claiming that with the additional funds they would purchase three lakh shares which would fetch him a return of Rs 4 crore within three days. Alarmed by the growing demand and sensing something amiss, the victim consulted a chartered accountant. Upon reviewing the situation, the professional immediately flagged the transactions as fraudulent.

When the victim informed the scammers that he could not arrange Rs 80 lakh more and that he was satisfied with the supposed profits already made, they attempted to negotiate a final payment of Rs 40 lakh. It was at this point that the victim realised the extent of the scam and approached the police.

The Muvattupuzha police have registered a case and begun an investigation. Preliminary findings revealed that the money was siphoned into the accounts of bogus entities and individuals operating under fictitious identities.

Location :

Kerala, India, India

First Published:

News india Clicked An Ad, Lost Rs 52 Lakh: Kerala Man Falls Victim To WhatsApp Trading Scam