Maharashtra: A 68-year-old logistics businessman from Churchgate has fallen victim to a massive online stock trading fraud, in which cyber fraudsters allegedly swindled him out of Rs 10.98 crore by luring him with promises of high returns through a fake trading application and WhatsApp group. Based on his complaint, the South Region Cyber Police Station has registered a case and launched a detailed investigation.
Lured by Online Advertisement
According to the complaint filed by Hoshang Cowar Wazifadarwala, a resident of Churchgate and owner of a logistics company, he came across an advertisement related to stock market investments while searching on Google. Shortly after, he received a WhatsApp message from a person named Mohan Sharma, who identified himself as a stock advisor.
Sharma added him to a WhatsApp group called TRADER TITAN VIP 46, where several members regularly posted screenshots of alleged profits, which convinced the complainant of the group’s legitimacy.
