Mumbai: 41-year-old Chembur man duped of 86.85 lakh in online investment scam

Mumbai: A 41-year-old multinational technology company employee from Chembur is the latest victim of cyber fraud. The cyber fraudster was duped of ₹86.85 lakh in an online investment scam operated through WhatsApp groups, fake trading apps, and multiple bank accounts. According to the FIR filed at East Region Cyber Police, the victim received a message on 11 September claiming to be from a finance company investment company on a WhatsApp group, inviting him to invest in stock market schemes. On 23 October, he was sent a link to download an app named Mkamsidu, which he downloaded and completed KYC details for. He began "trading" on the platform. The group had 104 members and was administered by two individuals identified as Meera Joshi and Venkatchalan Ramaswami. The two conducted daily online trading classes to build trust among members. The victim said he believed the platform to be legitimate as he was being shown virtual profits regularly, and every member was seen praising the admin. Between 28 October and 8 December, the victim transferred ₹86.85 lakh to various bank accounts through RTGS, assuming he was investing in stock market trades. However, when he attempted to withdraw his money on 8 December, he was told to first pay a 30% service fee, raising his suspicion. He immediately contacted the 1930 cyber helpline and later visited the BKC Cyber Police Station to file an official complaint. The victim submitted screenshots of chats and transactions to the police. He stated that Meera Joshi manipulated him by showing inflated virtual returns on another app, forcing him to continue investing. Cyber police have registered an offence based on the victim's statement. Investigations are underway to identify the suspects, trace the money trail, and determine whether more victims are involved.

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