Mumbai: Bank Officer Duped of ₹23 Lakh in Share Investment Scam; FIR Against Two Cyber Fraudsters in Matunga

An officer working with a reputed private bank has fallen victim to a cyber fraud, losing nearly ₹23 lakh in an online share investment scam. The incident came to light in the Matunga area after the victim lodged a complaint with the Cyber Cell of the Central Regional Division.

According to the police, a case has been registered under sections of the Bhartiya Nyaya Sanhita for cheating and relevant provisions of the Information Technology Act against two accused including a woman identified as Mangalam Ganesh and Ankita Ghosh. Investigations are underway to trace the bank accounts where the defrauded money was transferred.

The complainant, a resident of Matunga and an employee of a private bank, came across an online advertisement about share market investments on July 20 while at home. After clicking on the link, he received a call from a man identifying himself as Mangalam Ganesh, claiming to represent Anand Rathi Securities. The caller convinced him that investing through their firm would yield high returns and added him to a WhatsApp group purportedly run by the company.

Within the group, members shared tips on which shares to buy and sell, and even demonstrated profit calculations. Initially, the complainant received returns along with his invested amount, which increased his trust in the company.

Later, the complainant was contacted by another person — Ankita Ghosh, claiming to represent another share trading company. She promised even higher returns and persuaded him to invest further. Between both companies, the complainant invested around ₹23.17 lakh during July. While the transactions initially showed profits, he was unable to withdraw his money from the online platform.

When he contacted Ganesh and Ghosh for clarification, both stopped responding, blocked his number, and removed him from the WhatsApp group. Realising he had been duped, the officer approached the Cyber Cell Helpline and filed a formal complaint.

Following preliminary verification, the Cyber Cell registered a case of cheating and cyber fraud against both accused. Officials said efforts are on to obtain details of the bank accounts where the funds were transferred and to trace the culprits.

Police have urged citizens to be cautious about online investment schemes promising unusually high returns and to verify the authenticity of companies before transferring funds.