Fake investment app in Azim Premji’s name cheats industrialist of ₹73 lakh

Lokmat News Network

Chhatrapati Sambhajinagar:

A shocking case of cyber fraud has come to light in Chhatrapati Sambhajinagar, where a local industrialist was duped of ₹73 lakh through a fake investment app that falsely used the name of business tycoon Azim Premji. The fraudsters promised double returns on investments and managed to lure the businessman into transferring large sums of money. The fraud only came to light after the businessman, who had travelled abroad, later checked the official website of the Premji Group and discovered the scam.

Interestingly, more than half of the money was transferred to a bank account in Beed, revealing the shocking fact that cybercriminal networks are rapidly expanding within Maharashtra as well.

How the Fraud Happened

The 57-year-old industrialist, who owns his own company, received a WhatsApp message on July 8 from an unknown number claiming to offer investment opportunities in Premji Ex Company. In September, he again searched online for investment details related to Azim Premji’s companies.

On September 11, he received a phone call from a woman named Tanvi Deshpande, who claimed to represent the company. She added him to a WhatsApp group called ‘106-Premji Investment’ and shared a download link for an app called ‘Premji Invest’. Trusting the communication, the industrialist downloaded the app and found various attractive investment schemes. Believing the offers, he first transferred ₹30 lakh, followed by another ₹43 lakh, totalling ₹73 lakh.

Shock after returning from abroad

After making the payments, the businessman travelled abroad for work. Upon returning, he checked the status of his investment on the official Premji Group website. To his shock, the website had issued a public notice warning about fake apps and websites using their name. It was then that he realised he had been scammed. He immediately approached the police. A case has been registered at Mukundwadi Police Station, confirmed Police Inspector Sachin Ingole.

Cyber fraud ring spread in Maharashtra

Cyber crime rings were previously known to be active in states like Delhi, Noida, Uttar Pradesh, and Rajasthan. However, this case has exposed that such gangs are now also operating within Maharashtra. In fact, more than half of the scammed money was found to have been transferred to a bank account in Beed, indicating local involvement.

800 transactions make investigation challenging

The money sent by the victim was routed through hundreds of bank accounts, with over 800 separate transactions carried out to layer and move the funds. This complex web has made it difficult for cyber crime officials to trace the final destination of the stolen money.

Boxx

Tips to avoid cyber fraud

Verify official websites before making any financial investments.

Do not install unknown apps or click on suspicious links sent via WhatsApp, SMS, or email. Be aware of telephishing.

Be wary of WhatsApp groups, Telegram channels, and apps that promise quick or double returns.

Always check whether a company is officially registered with SEBI, RBI, or MCA, and verify licenses and bank account authenticity.