A human resources manager from Thane has become the latest victim of a sophisticated online investment scam, losing a staggering sum of Rs 36.74 lakh. The Navi Mumbai police confirmed the incident on Sunday, revealing details of a fraud that began with a promise of high returns on share trading.
The Modus Operandi: A Promise of High Returns
According to an official from the Nerul police station, the victim was first approached by a woman who claimed to represent a SEBI-registered firm. Lured by the prospect of significant profits, the HR manager was added to a dedicated WhatsApp group. The group members and administrators projected an image of legitimacy and success, encouraging him to participate in their share trading scheme.
The accused then provided him with a link to download a specific application or platform. Trusting the setup, the manager complied. His initial foray into the scheme seemed promising, yielding a profit of Rs 50,000. This early success, a classic tactic used by fraudsters to build trust, paved the way for much larger investments.
The Trap Springs: Vanishing Profits and Blocked Funds
Encouraged by the initial gains, the victim proceeded to invest heavily. Between August and September 2025, he funneled a total of Rs 36.74 lakh into the platform. The trouble began when he tried to withdraw his accumulated profits. The so-called returns, which appeared as numbers on a screen, proved impossible to access.
All attempts to contact the representatives or withdraw funds were met with delays, excuses, or silence. It was at this point, Inspector Bramhanand Naikwadi of the Nerul police station stated, that the manager realized he had been thoroughly duped. The platform was a facade, and the WhatsApp group was a carefully orchestrated theatre designed to siphon off his money.
Legal Repercussions and Ongoing Investigation
Following the complaint, the police have registered a formal case against unidentified persons. The charges are serious and include criminal breach of trust among other relevant sections under the Bharatiya Nyaya Sanhita and the Information Technology Act.
This case highlights a growing trend of online investment frauds that use messaging apps like WhatsApp to appear credible. Scammers often impersonate registered financial entities to lower their victims' guard. The police have advised the public to exercise extreme caution and to verify the credentials of any firm directly through official SEBI channels before investing.
Key takeaways from this incident:
- Unsolicited investment offers via WhatsApp or other social media are major red flags.
- Always independently verify the registration of any financial advisor or firm with SEBI.
- Be wary of schemes promising unusually high or guaranteed returns with low risk.
- If an offer seems too good to be true, it almost always is.
