A 38-year-old Tata Memorial Centre scientific assistant was duped of Rs 10 lakh through a sophisticated online share-trading scam facilitated by fake groups on Telegram and WhatsApp, highlighting the growing threat of digital investment fraud in India.
A 38-year-old scientific assistant at Tata Memorial Centre in Mumbai has allegedly lost Rs 10 lakh after being drawn into an online share-trading fraud that unfolded through Telegram, WhatsApp and a lookalike investment website, police said.
According to the first information report, Santosh Krishna Tambe, who lives in the Tata Memorial Centre staff quarters at Pailipada in Trombay, joined a stock-related Telegram group on June 1 and was later moved into a WhatsApp group called “ANTARA INDIA EVERGREEN”. Members of the group repeatedly posted stock tips and investment advice that appeared convincing enough to persuade him that the scheme was legitimate. He then began trading shares through the Groww app, believing he was dealing with genuine market guidance.
The fraud allegedly escalated when a link to antaraindia.com was shared, with claims that users could enter a prize-linked investment scheme. Tambe entered his details and logged in, after which the site displayed supposed stock opportunities and trading plans ranging from one-day to 10-day deals. On August 15, another group, this time on the Arattai messaging app and called “AH103 Antara Rapid Profit Plan Group”, allegedly told him that a Rs 10 lakh deposit would secure a larger share allocation. Tambe is said to have invested the money in stages, only to be shown a fictitious account balance of Rs 47.32 lakh, alongside an outstanding demand of Rs 7.84 lakh that he was told had to be paid before any withdrawal could be made.
When Tambe asked that the outstanding sum be deducted from the proceeds and the rest paid to him, the request was refused, police said, leading him to conclude that he had been cheated. He approached the cyber police station at BKC on September 20 through the cybercrime helpline and later went to Trombay police. A case has been registered under Section 66(D) of the Information Technology Act and relevant provisions of the Bharatiya Nyaya Sanhita, while officers investigate the people behind the messaging groups and website.
The alleged scam fits a pattern that Indian cyber authorities have been warning about for months. In July, the Ministry of Home Affairs’ Indian Cyber Crime Coordination Centre cautioned that fraudsters were using WhatsApp and Telegram investment groups to pose as market experts or representatives of reputable firms, then pushing victims towards private trading links and fake applications. Other reports from India have described similar cases in which victims were shown fabricated profits, only to be asked for more money under the pretext of taxes, fees or processing charges before withdrawals could be made.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
