In mid-2025, a 74-year-old retired man from Mulund, Mumbai, received a friend request on Facebook from a user calling herself “Diya Sharma.” Their conversations grew frequent: heartwarming messages, video calls, expressions of care. Over weeks, “Diya” cultivated an emotional connection, weaving trust and companionship.
But lurking behind her profile was a different intent. As the man grew emotionally invested, “Diya” introduced him to what she claimed was a legitimate investment opportunity with high returns. She said she worked for a Delhi-based firm called Bonanza Store and offered to guide him through the process. She shared a registration link and a referral code, encouraging him to establish an account that would supposedly yield 20 percent returns.
Between July and September, the man wired ₹3.7 crore into multiple bank accounts that, unbeknownst to him, were controlled by fraudsters. Screens on the fake platform showed the amount growing to ₹8.8 crore. When he attempted to withdraw, the site demanded further payments; communication dried up. Finally, when he confronted “Diya,” she allegedly threatened to expose their relationship to his family unless he complied. Alarmed and desperate, he turned to his children, who uncovered the operation’s deceit and urged him to file a complaint.
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An Investment Mirage — Built to Deceive
What the victim saw was a polished facade: a sleek investment portal, periodic updates, and growing balances. But behind it lay a carefully constructed scheme. Fraudsters operated multiple bank accounts, referral codes, and digital infrastructure to lend authenticity to the scam.
Investigations by cybercrime authorities revealed that the accounts used to receive funds had links to shell entities. In earlier cases, police had arrested suspects connected with similar scams in Mumbai, such as Nareshkumar Mali and Sureshkumar Mali, who were accused of running a web of accounts to launder funds in fake investment schemes associated with a “Diya Sharma” front.
This pattern — combining romance and investment promises — is part of a growing class of frauds. Scammers exploit emotional vulnerability, then layer it with financial persuasion. Once money is transferred, they throttle access, demand “service fees,” or simply vanish.
Victims, Vulnerability, and Systemic Gaps
Victims of such scams are often older adults with savings and fewer digital safeguards. Many lack awareness of fraud tactics, and the emotional manipulation disarms their caution. In this case, the man’s desire for companionship became a vector for financial exploitation.
Even after suspicion arises, structural hurdles complicate recovery. Digital evidence is dispersed, accounts are quickly drained or shut, and transactions cross jurisdictions. Cyber cells must piece together logs, bank receipts, IP addresses, and message histories. Meanwhile, emotional trauma and stigma may delay reporting.
Mumbai’s cybercrime units have grown cautious: in similar cases, arrests have led to freezing of some accounts, but full recovery of funds is rare. The manner in which the investigated suspects operated — using rented bank accounts, layering transactions, and recruiting intermediaries — complicates tracing and prosecution.
The Wider Trend: Romance Frauds and Financial Frontiers
This case is part of a broader shift in cybercrime strategy. As regulatory scrutiny and public awareness reduce the effectiveness of classic investment fraud, criminals increasingly blend social engineering with financial deception. Online “lover scams” that escalate into investment fraud are becoming more common globally.
Authorities in India are registering more complaints under sections of the Indian Penal Code (cheating, criminal breach of trust) and under the Information Technology Act. Yet, enforcement capacity remains uneven, especially given how fast funds can vanish and cross borders.
For victims, the message is difficult but essential: digital affection must not override financial caution. When love is asked to be paid for — literally — the cost can extend far beyond heartbreak.
