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Mumbai: Ghatkopar Man Duped of ₹6.13 Lakh in Share Trading and IPO Scams

By vishal.singh | Updated: September 12, 2025 20:19 IST

A shocking case of online fraud has come to light in Ghatkopar, where a young man was duped of ...

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A shocking case of online fraud has come to light in Ghatkopar, where a young man was duped of ₹6.13 lakh under the pretext of share trading and IPO investments. The Ghatkopar police have registered an FIR in the matter and initiated further investigation.

 

The victim, identified as Devendra, works at Mall in Kurla. On June 30, he received a WhatsApp message from an unknown woman, promising profits through share trading. He was then added to a WhatsApp group named Infinite Possibilities 497, where two individuals, Vanshika Sharma and Akash Saxena, convinced him that he could earn huge returns through stock market investments.

 

Initially, Devendra invested ₹10,000, and when a profit of ₹2,000 was credited to his account, he gained confidence. Following this, the accused lured him into transferring larger sums — first ₹95,000, and later ₹5 lakh in the name of IPO purchases. The money was routed to multiple bank accounts, including those under the names Mahakal Agro Feed Pvt Ltd and SSV Fashion, as well as through various UPI IDs.

 

On September 4, Devendra was shown on the Fisdom app that he had made a profit of ₹18 lakh from the IPO of Vikrant Engineering Ltd. However, when he attempted to withdraw the amount, the transaction failed. Soon after, all the accused switched off their mobile numbers.

 

Realising that he had been duped, Devendra immediately filed a complaint with the Cyber Crime Helpline (1930) and approached the police station. Based on the preliminary probe, police have registered a case of cheating against suspects Vanshika Sharma, Akash Saxena, and the holders of the linked bank accounts and UPI IDs.

 

 

Tags: Mumbai NewsMumbai cyber crimeGhatkoparGhatkopar police stationcyber crimeonline fraudIPO
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