A 46-year-old mechanical engineer from Thane in Maharashtra has reportedly lost ₹3.15 crore after being lured into investing in a fraudulent online trading platform, police said, marking another large-ticket cyber fraud incident in India’s digital investment space.
The complainant, a resident of the Kasarvadavali area, told the Thane Cyber Police that he was approached with a promise of high returns from an online trading website. Trusting the claims, he transferred money between December 12, 2025 and February 11, 2026 — totalling ₹3,15,67,954 — before realising he had been cheated.
How the Fraud Operated
According to the police, the victim was initially shown a fake profit of USD 5 lakh (displayed on the platform to build confidence), which encouraged him to continue investing more funds. However, when he later tried to withdraw his original investments or the purported profits, his account was blocked and communications with the operators ceased — a clear red flag of an online investment scam.
The complainant immediately approached the Thane Cyber Police Station, prompting them to register a case against three suspected individuals under multiple sections of the Bharatiya Nyaya Sanhita — including cheating and criminal breach of trust — and sections 66(C) and 66(D) of the Information Technology Act for impersonation and online fraud. A formal investigation is now underway.
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Rising Trend of Investment-Linked Frauds
This case is part of a broader pattern of online trading and investment scams that have shaken investor confidence in digital finance platforms. Cybercriminals often use persuasive tactics — such as showing fabricated profits, creating realistic-looking interfaces and offering unusually high returns — to lure victims into transferring money into controlled accounts, only to block access later. Fraudsters frequently promote these schemes through cold calls, WhatsApp messages, social media and fake advisor profiles, creating a sense of urgency and legitimacy.
Police believe that such scams exploit the growing appetite for online trading and investment opportunities, particularly when inexperienced investors are promised quick profits. Often the withdrawal process is engineered to fail, at which point fraudsters disappear, leaving victims with no recourse except to file complaints with cybercrime units.
Earlier similar cases include residents in other cities being duped of crores in fraudulent share or online trading schemes, underscoring how pervasive these cyber scams have become.
Investigation and Police Action
Investigators are now analysing digital footprints, transaction histories and communication logs to trace the fraud operators and identify financial routes used to launder the scam proceeds. The police are also coordinating with banking institutions to track suspicious account movements linked to the case.
Police officials urged the public to exercise caution before making online investments — especially in platforms that are not registered with regulatory authorities or solicit funds with unrealistic profit guarantees. Experts also warn against relying solely on screenshots or displayed profits on unverified apps, as these are common tactics used by cyber criminals to deceive even seasoned investors.
Victims are encouraged to file complaints promptly with cybercrime stations or through the National Cyber Crime Reporting Portal and to preserve all transaction records, chat histories and investment documents to assist in investigations.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
