A wanted cyber fraudster has been arrested by the Cyber Cell of the North Region Police for duping a retired senior bank officer of around ₹52 lakh by luring him with promises of high returns through share trading.
The accused, identified as Vikramsingh Amarsingh Ghatge, was found to be in contact with multiple cyber fraudsters and had opened several bank accounts for them. Investigation revealed that funds obtained through fraudulent means were deposited into these accounts.
According to the complaint, the 63-year-old victim, a retired officer from a nationalised bank, lives in Goregaon with his wife, who works at a reputed hospital. In June 2025, while browsing messages on social media, his mobile number was added to a WhatsApp group of a so-called private company that shared information on stock trading.
Initially, he ignored the messages. A few days later, a woman named Suman Gupta contacted him through the group and introduced herself as an investment advisor. She encouraged him to invest in share trading, assuring him of high returns. Tempted by the offer, he agreed and was asked to download a trading application, where he uploaded his personal and bank details.
Between 26 June and August 2025, the victim invested ₹30.65 lakh through the first company. Later, he was added to another private firm’s WhatsApp group, where he was again lured with promises of good returns and invested an additional ₹21.25 lakh. In total, he invested ₹51.90 lakh through two such fake trading companies.
Subsequently, he noticed entries showing deposits of ₹1.46 crore and ₹1.23 crore in two separate accounts, purportedly showing his principal and profits. However, when he tried to transfer part of this amount to his personal account, the transaction repeatedly failed. When he contacted the so-called company representatives, they gave evasive replies. Realising he had been defrauded, the victim reported the matter to the Cyber Helpline and the North Region Cyber Cell.
Based on the complaint, police registered a case under sections of the BNS related to cheating and provisions of the IT Act. Technical analysis led the police to Vikramsingh Ghatge, a resident of Satara.
Investigations revealed that money from the fraud had been transferred into Ghatge’s bank account, from which he withdrew cash and handed it over to the main cyber fraudsters in exchange for a fixed commission. He had also provided his bank details to facilitate the scam.
Police are now tracing the main masterminds of the cyber syndicate and have warned citizens to remain cautious about investment offers on social media and WhatsApp groups.