Stuart ayres, Minister for Jobs, Investment, Tourism and Western Sydney

A 62-year-old woman from Bandra (West), Mumbai, has fallen prey to a massive online scam in which she was duped of ₹7.88 crore under the pretext of investing in the stock market. The fraud occurred between June and July 2025, with cybercriminals impersonating representatives of the reputed financial firm Anand Rathi. According to the complaint filed with the Mumbai Cyber Police, the woman—who is a homemaker and has been living with her family in Bandra (West)—first received a message on WhatsApp in June from an unknown number. The sender, identifying herself as Priya Sharma, claimed to be the assistant of one Suresh Malhotra and initiated a conversation about stock investments. Expressing interest, the woman was then provided with Suresh Malhotra’s contact number and a link to a website: https://www.anandrathi.cc/s/QXqRavm5. She was subsequently added to a WhatsApp group titled “VIP1-Anand Rathi Membership Trading Strategy”, which included 71 members and was administered by Priya Sharma. The group shared investment advice and live updates about share prices. Encouraged by seemingly accurate tips, the woman was introduced to another individual, Suman Gupta, who also claimed to be associated with Anand Rathi. Gupta advised her to download an app named AR (https://apps.apple.com/us/app/trademobi/id6746813301). After downloading and registering on the app—by uploading her PAN card—she even encouraged her daughter to join the platform. Trusting the guidance she received in the group and the app interface, which showed options to buy shares and IPOs, the woman began investing large sums. On Priya Sharma’s instruction, she transferred a total of ₹7,88,87,000 into multiple bank accounts over a period of time. Although the app showed a dip in investments due to market fluctuations, it still reflected a balance of over ₹6.40 crore. But on 11 July 2025, when she attempted to withdraw her funds, she was asked to deposit an additional 10% of the amount to proceed with the withdrawal. Sensing something suspicious, she decided to investigate further, which ultimately revealed that the entire operation was a fraud. The complainant has since registered a case on an online cyber complaint portal. She has alleged that between 8 June and 11 July 2025, Priya Sharma, Suman Gupta, and others associated with the fake AR app had conspired to cheat her. Pretending to represent Anand Rathi, they earned her trust and convinced her to invest through a fraudulent platform, ultimately causing her massive financial loss. The Mumbai Cyber Police have taken cognizance of the complaint and have initiated a detailed investigation into the matter.

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