A 75-year-old retired ship captain from Colaba, Mumbai, lost ₹11.1 crore in a share market scam. The fraud began when an unknown person added the victim to a WhatsApp group, claiming to offer valuable investment advice.
The group seemed legitimate, as it appeared to be associated with a well-known financial services company.On August 19, the victim received an invitation to a WhatsApp group with the name of a reputed financial firm.
The group administrator, introducing herself as Anya Smith, shared investment strategies and stock opportunities, which led the victim to believe the group was genuine.
As an experienced investor, he expressed interest in joining the trading platform. Also read: Ed Sheeran announces 2025 India tour: Dates, cities, ticket pre-booking, and exclusive offers revealed The scammers then added the victim to another WhatsApp group and sent him a link to download a trading app.
After installing the app, the victim received messages about various investment opportunities, including IPOs and OTC trades.