Mumbai Investor Duped of ₹61 Lakh in Fake Trading Scheme, Three Held in Cyber Fraud Crackdown

In a major cybercrime bust, Mumbai police arrested three individuals linked to a deceptive investment racket that cost a local trader over ₹61 lakh. The accused, identified as Lachen Shopie, Bhimbahadur Pradhan, and Ramesh Kumar Abhimanyu, were taken into custody by the North Regional Cyber Police for allowing their bank accounts to be used as conduits for the scam.

Fraud Alert

The Investment Trap

The victim, Sunilkumar Sajjankumar Mishra, a 51-year-old share trading professional, was added to a WhatsApp group last year by an unknown number. Posing as a stock market coaching community, the group lured members with claims of high-profit trading strategies and insider tips.

Tempted by the promise of a 30% return, Mishra began investing. Over time, he transferred a staggering ₹61.31 lakh into various bank accounts provided by the fraudsters, believing he was growing a profitable portfolio.

However, trouble began when he tried to withdraw his returns. Instead of receiving his profits, Mishra was told he needed to pay a 21% tax on his total investment before any payout could be processed. Growing suspicious, he refused to comply and soon realized he had been scammed.

How the Scam Worked

The arrested trio allegedly handed over their personal bank account details to the cybercriminals behind the operation. These accounts were then used to route and park the siphoned money, making it harder to trace the masterminds. According to investigators, this technique of using money mules is common in digital frauds and helps large criminal networks avoid direct detection.

Police Investigation and Findings

Acting on the complaint, cyber police launched a technical surveillance operation and tracked the financial trail, eventually identifying the three accused. Authorities suspect the involvement of a wider cybercrime syndicate operating similar scams across the country under the guise of high-yield investment schemes.

Officials warned the public to be cautious about joining unknown online groups and sharing financial data. They also advised verifying the authenticity of investment platforms and avoiding upfront payments or too-good-to-be-true offers.

The Bigger Picture

Cases like Mishra’s highlight the increasing sophistication of online financial scams, where psychological manipulation, fake communities, and real-looking platforms create a convincing illusion. With WhatsApp and social media being widely used for personal finance advice, scammers are exploiting trust and digital connectivity to run these operations.

Authorities are urging people to report such incidents promptly and help disrupt the growing cybercrime ecosystem. In today’s digital world, vigilance is the strongest defense against fraud.