An assistant general manager (AGM) at Bank of India has reportedly lost ₹1.35 crore in an online investment fraud. The 45-year-old officer was added to a WhatsApp group by an individual named ‘Sovit Dwivedi’ on December 9, 2024. This group shared information about share market investment schemes and tips. After observing the group’s interactions, she was persuaded to invest, believing she could earn substantial returns from trading. The fraudsters instructed her to download two mobile applications that displayed fabricated profits, leading her to believe her investments were growing. The deception came to light when she attempted to withdraw her funds and received evasive responses from the perpetrators. Realizing she had been defrauded, she lodged a complaint with the Cyber West Police, who registered a cheating case on March 19, 2025.
This incident is part of a broader trend of cyber frauds involving fake investment schemes. In a similar case, an assistant manager at Exim Bank was duped of ₹1.35 crore after being added to a WhatsApp group that promoted fraudulent stock market investments.
Authorities advise the public to exercise caution with unsolicited investment opportunities, especially those encountered through social media platforms. It’s crucial to verify the legitimacy of investment schemes and consult with certified financial advisors before committing funds.
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