Elderly Mumbai Man Defrauded of Life Savings in Elaborate Online Scam
A 75-year-old resident of Mumbai's western suburbs has become the latest victim of a sophisticated share market investment fraud, losing a staggering Rs 6 crore to criminals operating through WhatsApp groups and a fake trading application. The elaborate scam unfolded over three months, between August 1 and November 12 of this year, before the victim realized he had been duped.
The Modus Operandi: From WhatsApp Group to Fake Trading App
The financial nightmare began when the senior citizen's mobile number was added to a WhatsApp group named 'Wealth Creator 633'. In this group, members received messages promising substantial profits from share market investments. The group administrator, identifying herself as Arohi Namboodari, then personally contacted the victim.
Namboodari shared a link to her company's application and instructed him to download it. After entering his mobile number, the victim gained access to what appeared to be a legitimate trading platform. The fraudster then elevated his status by adding him to an exclusive 'VIP WhatsApp group' with approximately 60 participants who actively discussed investments and share trading.
"Namboodari provided what seemed like expert trading tips and directed the complainant to purchase specific shares visible within the application," explained a police official familiar with the case.
The Financial Drain: 28 Transactions Totaling Rs 6 Crore
Over the following weeks, the fraudsters systematically drained the victim's savings. Namboodari provided multiple bank account numbers, instructing the senior citizen to transfer money for his "investments." In a series of 28 separate transactions, the 75-year-old transferred the enormous sum of Rs 6 crore to these accounts.
The scale of the deception became particularly evident on two days:
- November 7: He transferred Rs 2 crore in a single day - Rs 1.5 crore to one account and Rs 50 lakh to another.
- November 4: He sent Rs 1.5 crore in three separate transactions to a single bank account.
Throughout this period, the fake application displayed what appeared to be massive growth in his portfolio, showing his initial investment and supposed profits ballooning to approximately Rs 28 crore.
The Unraveling: When Withdrawals Failed
The scheme collapsed when the elderly investor attempted to transfer his apparent earnings from the digital wallet to his personal bank account. Despite the application showing a balance of nearly Rs 28 crore, the transfer repeatedly failed. This prompted him to approach the authorities, leading to the registration of a First Information Report (FIR) under relevant sections of the BNS and the IT Act.
This case highlights the growing sophistication of online financial frauds targeting vulnerable sections of society, particularly senior citizens who may be less familiar with digital platforms. Police are investigating the multiple bank accounts used in the scam and the digital trail left by the fraudsters.
