Mumbai cyber crime team has uncovered two emotionally charged investment scams in which two men were defrauded of ₹74 lacks after forming online relationships with women posing as successful investment professionals. The elaborate schemes combined romance, trust-building, and false financial gains to extract significant amounts from the victims.
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In the first case, a 29-year-old manager employed at a multinational firm met a woman on a matrimonial site in January. She identified herself as “Mahi Agarwal”, claiming to be based in Malaysia and invested in cryptocurrency through a firm called “Boost Base.” Over several weeks, she encouraged him to invest, initially steering him to transfer ₹20,000. When he observed an early profit of ₹2,200 and successfully withdrew it, he believed in the legitimacy of the scheme.
Buoyed by initial returns, he made multiple transfers that eventually totalled ₹32 lakh. However, when he tried to withdraw more significant funds in May, the app locked him out, and all communications with “Mahi” ceased. Alarmed, he filed a complaint with the Mumbai cyber crime unit under sections of the IT Act and the Bharatiya Nyaya Sanhita.
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Stock and IPO Trap Over Messenger
In the second incident, a 44-year-old man from Chandivali was approached via Facebook Messenger in mid-May by “Priya Kumari”, who posed as a Gurgaon-based fashion designer. She began offering genuine-looking stock tips, followed by instructions to register for a trading website and invest. Later, another fake persona, “Ritika Sharma”, joined on Telegram with further investment tips.
Between May 14 and June 4, the victim transferred ₹42 lakh across several accounts via the app, which displayed fabricated account balances nearing ₹90 lakh. At withdrawal, he was warned of a “tax” charge before he could access the funds. Then, all communication was abruptly cut off, and efforts to retrieve the money failed. He later approached cyber crime authorities, prompting an official investigation.
About the Author – Anirudh Mittal is a B.Sc. LL.B. (Hons.) student at National Forensic Sciences University, Gandhinagar, with a keen interest in corporate law and tech-driven legal change.
