Mumbai: Businessman Duped of ₹21.5 Lakh in Online Trading Scam Through Friendship on Social Media App

A case of cyber fraud involving ₹21.5 lakh has come to light in the Byculla area, where an unidentified cyber fraudster allegedly cheated a businessman under the pretext of investment in a private online trading company after befriending him through a private social media application. The Cyber Cell of the Central Regional Division has registered a case against the accused woman and her associates under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act and initiated an investigation.

According to police, the complainant, a 38-year-old businessman residing in Byculla, runs an interior designing business. Around two years ago, he had registered on a private application for matrimonial purposes. In March, he came across a profile of a woman and sent her a friend request after finding her profile appealing. The woman accepted his request, following which the two started communicating through chats.

The woman introduced herself as Ananya Sharma and claimed to be a resident of Delhi. As their conversations progressed, they developed a close friendship and later exchanged WhatsApp numbers, continuing their communication through the messaging platform.

During one of their chats, the woman claimed that she had invested in a private online trading company and earned substantial profits. She allegedly convinced the complainant that he too could earn significant returns by investing in the same company and gradually gained his trust.

Acting on her advice, the complainant registered with the company and initially invested ₹50,000. Between March and April 2026, he invested approximately ₹21 lakh in phases through the trading platform.

After some time, the platform displayed that his investment had generated a profit of ₹69 lakh. However, when he attempted to transfer the amount to his bank account, the transaction repeatedly failed.

Subsequently, an unidentified individual contacted him and informed him that he would first need to pay 30 per cent of the amount as tax before the principal and profit amount could be credited to his bank account. Suspecting foul play, the complainant refused to make the additional payment.

When repeated attempts to contact the accused failed, he realised that he had been duped and approached the cyber helpline and the Cyber Cell of the Central Regional Division to lodge a complaint.

Following the complaint, police registered an FIR against the accused woman and her associates under cheating and IT-related sections. Police officials said efforts are underway to trace the bank accounts used in the fraud and identify the account holders. Further investigation is in progress, and action to arrest the accused is likely to follow soon.