Archive · 29 Aug 2026
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.
- When
- She was contacted on July 20 and transferred money between July 26 and August 5; the case was reported on August 29, 2026.
- Where
- Nerul, Navi Mumbai, with transfers made to bank accounts provided by the accused.
- Why
- The fraudsters allegedly promised low-risk, assured IPO returns and used fictitious profits to persuade her to invest more.
- 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