4 days ago
Nerul Entrepreneur Loses ₹1.41 Crore in Fake IPO Scam
A woman in Nerul was contacted by people who promised safe and profitable IPO investments.
They told her to use a fake investment app and join a WhatsApp group.
She sent them about ₹1.41 crore in several bank transfers.
The app then showed that her money had grown to about ₹3.01 crore.
However, she could not take the money out.
The fraudsters sent a fake payment screenshot and demanded even more money.
The woman checked with the real company and became suspicious.
Police are investigating and trying to find the people involved.
A 59-year-old Nerul entrepreneur allegedly lost ₹1.41 crore in a fake IPO investment scheme.
Fraudsters reportedly used WhatsApp, a fake investment app and a group to attract her.
The victim transferred money between July 26 and August 5 after being promised assured returns.
The app falsely showed her investment had grown to ₹3.01 crore, but withdrawals were blocked.
Navi Mumbai Cyber Police registered a case against unidentified people and are tracing the money and digital trails.
- Who
- A 59-year-old woman entrepreneur from Nerul was allegedly defrauded by unidentified cyber fraudsters.
- What
- She was allegedly cheated of ₹1 crore 41 lakh 56 thousand through a fake IPO investment scheme.
- Where
- Nerul, Navi Mumbai, with transfers made to bank accounts provided by the accused.
- When
- She was contacted on July 20 and transferred money between July 26 and August 5; the case was reported on August 29, 2026.
- Why
- The fraudsters allegedly promised low-risk, assured IPO returns and used fictitious profits to persuade her to invest more.
Key facts
- Reported loss
- ₹1 crore 41 lakh 56 thousand
- Falsely displayed investment value
- ₹3 crore 1 lakh 82 thousand
- Initial contact
- July 20 through WhatsApp
- Transfer period
- July 26 to August 5
- Alleged methods
- Fake investment app, WhatsApp group and bank transfers
- Additional demand
- 10% payment described as a risk management charge
- Investigating agency
- Navi Mumbai Cyber Police
- Reported legal sections
- Sections 318(4), 319(2) and 3(5) of the Bharatiya Nyaya Sanhita, 2023, and Section 66(D) of the Information Technology Act
Quotes
A Navi Mumbai Cyber Police officer
Police officer who issued a warning about investment fraud and reporting suspicious transactions
“Investors should not trust investment offers received through WhatsApp or other social media platforms without verifying the credentials of the company. Fraudsters often use fake applications and display fictitious profits to gain the victim’s confidence. People should immediately report suspicious transactions to the cybercrime helpline and police.”
freepressjournal.in
Sources
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