BENGALURU: A Bengaluru man who believed he was trading with senior executives of a global financial firm spent more than two months investing in a platform that displayed rising profits. By the time he tried to withdraw his money, the app had locked him out — and more than ₹1.02 crore had vanished.
A Message, a Pitch, and the First Signs of Trust
When a 33-year-old resident of Balaji Layout, identified as Pavan K (name changed), received a Facebook message from an unfamiliar account in late August, it seemed at first like the sort of routine solicitation common on social media. The stranger spoke about stock investments, promising insights from professionals tied to major global financial firms.
Within days, Pavan was drawn into a WhatsApp group that appeared to be run by senior executives of Morgan Stanley’s Asia-Pacific division. The group’s three administrators claimed impressive credentials — one presenting himself as the CEO, another as a senior human resources executive. They offered charts, screenshots, and trading results, all designed to reinforce an image of high-level expertise. As Pavan later told the police, the posts looked convincing.
“Screenshots of gains and results of the trades suggested by them were shared in the group, leading me to trust them,” his complaint reads.
A Fake App and the Illusion of Growing Wealth
Before long, Pavan was asked to download an investment application from a website that mimicked Morgan Stanley’s branding: www.morganstanleyaaiindia.com/app.apk. The website like the app was a sophisticated counterfeit. It provided real-time numbers, charts, and what appeared to be portfolio updates showing his money multiplying.
Beginning in late August, Pavan started transferring funds. Each deposit was reflected instantly in the app, which showed consistent gains. Over the next two months, in a series of transactions, he moved ₹1,02,05,923 into the platform, believing he was participating in expertly guided stock trades. For Pavan, the figures on the screen were a reassuring sign that the advice he was receiving was paying off. It would be weeks before he realised that none of it was real.
The Lockout That Exposed the Deception
On November 4, Pavan attempted to withdraw a portion of his supposed profits. Instead of receiving a confirmation, he found himself unable to access the application. Repeated attempts to log in failed. Messages to the administrators of the WhatsApp group went unanswered.
Only then did the consistency of the gains, the slick interface, and the apparent professionalism of the group fall into a different pattern — one that suggested he had been dealing with fraudsters who had impersonated an American multinational investment bank.
Realising he had been deceived, Pavan approached the police. An FIR was filed on November 8 at the Southeast Cybercrime Police Station, marking the start of an investigation into what appears to be a highly organised, cross-platform impersonation scheme.
A Case Reflecting Larger Patterns in Digital Investment Fraud
Investigators say the case illustrates several recurring strategies in online financial fraud: the use of social media for initial contact; creation of WhatsApp groups to build credibility through multiple fake personas; deployment of counterfeit investment apps that mimic real corporate identities; and manipulation of on-screen data to fabricate gains.
The cybercrime police are now tracing payment trails and digital footprints to identify the operators behind the fake app and the coordinated impersonation effort.
