Retired Defence Scientist Defrauded of Rs 2.8 Crore in Elaborate Cyber Scam
In a shocking case of cyber fraud, a 69-year-old retired defence scientist, who previously served as a project director at the Defence Metallurgical Research Laboratory (DMRL) and contributed to the BrahMos supersonic missile project, has been swindled of Rs 2.8 crore by sophisticated cybercriminals. The incident, which unfolded in Hyderabad, highlights the growing threat of online investment scams targeting vulnerable individuals.
How the Scam Unfolded
The victim, a resident of Himayatnagar, began receiving unsolicited WhatsApp messages in November 2025 from three individuals who identified themselves as Hemang Mehta, Harnish Mahesh Shukla, and Gauri Anand. Posing as high-profile investment advisors, they lured him into a fraudulent "collective share-purchasing scheme" with promises of extraordinary returns of up to 1,200%. The scammers claimed to offer access to discounted block deals, pre-IPO placements, and private equity opportunities, presenting themselves as authorized agents.
To facilitate the scheme, the victim was instructed to install an app named ‘IndiaBoltPlus’ via a link provided by the accused. Between November 5 and December 24, the former scientist transferred a total of Rs 2.82 crore through 13 transactions to various bank accounts provided by the fraudsters. The ‘IndiaBoltPlus’ app displayed a fake dashboard that falsely showed his investment had grown to an astonishing Rs 40 crore, further deceiving him into believing the legitimacy of the operation.
The Trap Springs Shut
When the victim sought to withdraw Rs 60 lakh to settle personal loans, his request was abruptly blocked. Instead, he was told to withdraw the entire corpus, after which the operators demanded an additional Rs 1.75 crore as a "commission" to release the funds. This demand raised immediate red flags, prompting the retired scientist to conduct an independent investigation.
"An independent check revealed that the IndiaBoltPlus app had no link to any legitimate investment services company, and the names used by the fraudsters were aliases," the victim reported to the police. Realizing he had been duped, he filed a formal complaint with the Hyderabad Cyber Crime Police.
Legal Action and Investigation
A case was registered on Monday under multiple sections of the law, including:
- Sections 66C and 66D of the IT Act, which deal with identity theft and cheating by personation using computer resources.
- Sections 111(2)(b) for organised crime, 318(4) for cheating, 319(2) for cheating by personation, 336(3) for forgery for cheating, 338 for forgery of valuable security, will, etc., and 340(2) for using as genuine a forged document or electronic record under the Bharatiya Nyaya Sanhita (BNS).
Police have launched a comprehensive investigation to trace the bank accounts and digital footprints of the suspects. Authorities are working diligently to uncover the identities behind the aliases and recover the stolen funds, emphasizing the need for public vigilance against such sophisticated cyber frauds.
This case serves as a stark reminder of the risks associated with unsolicited investment offers and the importance of verifying the credentials of financial advisors and platforms before committing substantial sums of money.
