In a recent development in Mumbai, the Cyber Police have arrested two individuals, including a self-proclaimed company director, for allegedly defrauding a 21-year-old private firm partner of ₹3.63 crore through an online share trading scam.

Between March 10 and 25, the victim was lured via WhatsApp groups named ‘Ganpati Trade Group’ and ‘F-6 Mirae Assets’, which showcased fraudulent profit screenshots to entice investments. He was persuaded to make payments through a counterfeit app under the promise of high returns and IPO investments. After investing ₹3.6 crore and losing contact with the group, the victim approached the police.

Investigations revealed that the funds were transferred across various bank accounts, including one linked to a fictitious company, CWFS Pvt Ltd., operating from Goregaon. One of its fake directors, Mohammad Tanvir Khan (31), was arrested. Additionally, ₹4.89 lakh was traced to a real estate agent, Adnan Khan (27), who had withdrawn the funds and was also taken into custody. The Cyber Police, led by senior inspector Nandkumar Gopale, are continuing the probe.

This incident highlights the growing threat of cyber frauds in the realm of online share trading, emphasizing the need for vigilance and due diligence when engaging in such investments.

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