A 62-year-old woman from Pali Hill, Mumbai, has lost ₹7.87 crore in an online trading scam that promised high returns through a fraudulent investment app. The woman was lured into the scam by individuals posing as representatives of a well-known trading firm.
According to the police, a woman named Priya Sharma contacted the victim on WhatsApp in June, claiming to be the assistant to the chief investment officer of a popular trading company. Sharma added her to a WhatsApp group where stock market tips and success stories were shared regularly. Impressed by the apparent profits shown in the group, the woman decided to invest.
She was instructed to use a mobile app that carried the name of the trading firm. Over time, the woman transferred ₹7.87 crore through 18 transactions to different bank accounts as directed by the accused.
Initially, the app displayed substantial profits. However, after a few days, the account began showing losses. When the woman attempted to withdraw her money, the accused told her she must deposit an additional 10 percent of the total investment to initiate the withdrawal. This raised her suspicions.
She then contacted the actual customer care of the trading firm and discovered that no investment had ever been made in her name. Realising that she had been cheated, the woman approached the police and filed a complaint on Friday.
Based on her statement, a case has been registered against Priya Sharma and her associates under sections 318, 319, 61, 336, and 338 of the Bharatiya Nyaya Sanhita, along with relevant sections of the Information Technology Act.
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