Mumbai Investment Fraud: Malaysian Embassy Official Duped of ₹79 Lakh in Crypto Investment Scam

In a shocking case of cyber fraud, an immigration officer working at the Malaysian Embassy office in Mumbai was allegedly cheated of nearly ₹79 lakh by cyber fraudsters who lured him with promises of high returns on cryptocurrency investments.

The Eastern Region Cyber Cell has registered an FIR against ten unidentified cyber fraudsters under charges of criminal conspiracy, cheating and relevant sections of the Information Technology Act. Police said the complainant approached them nearly one-and-a-half years after the incident due to severe mental stress and fear of social stigma.

The 41-year-old complainant, a resident of Kanjurmarg, is employed as an immigration staffer at the Malaysian Embassy office located at Turner Road, Bandra. The incident dates back to January 2024, when he was added to a WhatsApp group named “EG Plan,” where information about share trading was regularly shared.

According to police, the complainant had basic knowledge of share trading and found the information shared in the group to be convincing. A few days later, the group administrators identified as Mayati Gupta and Arjun Singh contacted him and advised him to invest in shares and later in cryptocurrency. Acting on their instructions, he registered on the company’s website and began investing.

Trusting their assurances of high returns, the victim transferred money to more than 18 different bank accounts through online transactions and RTGS. Initially, he received ₹1.69 lakh in his bank account as returns, which strengthened his trust in the scheme.

Encouraged by the apparent profit, and on the advice of the accused and others involved, he invested approximately ₹78.85 lakh between April 2024 and June 2025 in cryptocurrency trading.

However, when he later requested withdrawal of his investment and profits, the accused allegedly demanded an additional ₹18 lakh as a processing fee to release the funds. When he refused to pay the amount, they cut off all contact with him.

Police said the fraudsters, along with eight others, induced him to invest ₹78.85 lakh by promising lucrative returns but neither returned the principal amount nor the profits.

The complainant reportedly suffered immense mental distress and refrained from filing a police complaint earlier due to fear of social embarrassment. Recently, he informed bank officials about the incident, following which he was advised to approach the police.

Based on his complaint, the Eastern Region Cyber Cell has registered a case against ten unidentified individuals. Police said they are tracing the bank accounts into which the funds were transferred and gathering details of the account holders. Further investigation is underway.