A woman entrepreneur from Malad, Mumbai, was reportedly defrauded of Rs 53.73 lakh by a scam trading firm that promised high returns on investments. The Cyber Cell of the North Region Division has arrested a 38-year-old man named Dinesh Rishpal Chawla in connection with this case.
The victim, Rani Kahar, a software developer and business owner, learned about the fraudulent company through her IT friend Srinivas. She was added to a WhatsApp group linked to the company and eventually signed up via a link, providing her personal and banking details. Trusting the scammer company’s legitimacy, she invested nearly Rs 60 lakh over time.
Kahar initially received Rs 6.25 lakh as profit, which reinforced her belief in the investment’s authenticity. However, when she attempted to withdraw her remaining funds, she was told that it would negatively affect her credit score.
Scam trading firm then demanded Rs 90 lakh to release her profits, followed by an immediate request for Rs 44 lakh, threatening a 3% tax deduction starting February 2025. Suspecting something was amiss, Kahar conducted her own investigation and found that the scam company had defrauded many others under the guise of online trading.
She subsequently filed a complaint with the Cyber Cell against scam trading firm . Investigations revealed that Chawla had set up multiple bank accounts for cyber fraudsters, facilitating the transfer of stolen funds while keeping a commission for himself. He was arrested based on technical evidence and confessed during questioning.
Chawla was presented in a Borivali court and remanded to police custody. Authorities believe that more individuals may be involved and have launched a wider investigation.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
