Investors Tricked via Fake WhatsApp Share Trading Group, Mumbai Police Act

A fake WhatsApp group promising lucrative returns from online share trading has been exposed by Mumbai Police’s cyber crime unit. The group, disguised as "Arjun Mehta, Kua Securities, UK," attracted investors with regular market updates, advisory tips and claims of extraordinary profits.

The scam netted more than ₹1.07 crore from victims who were coaxed into registering on a counterfeit trading platform that mimicked real‑world stock‑exchange interfaces. One victim, a 43‑year‑old investment specialist, transferred sums from his personal and family accounts to various bank accounts supplied by the fraudsters.

Six suspects were arrested – four from Vadodara, Gujarat and two from Mumbai. They employed WhatsApp, a bogus trading application and a network of bank accounts to move the illicit proceeds and hide their tracks.

Police describe the operation as a well‑structured cyber racketeering scheme with designated roles for each member, ranging from recruitment to money laundering. The investigation continues with efforts to trace the flow of funds, recover losses and uncover any additional victims across other Indian states.