In a troubling case of online financial fraud and a shocking Mumbai crime, a 56-year-old woman from Mumbai has become the victim of a sophisticated investment scam, losing over ₹61.93 lakh over a period of six months. The case, now under investigation by the Cyber Police Station in Mumbai, reveals how trust, manipulation, and fake promises of high returns can cost unsuspecting individuals their hard-earned money.
How the Mumbai Crime Unravelled
According to the FIR filed on June 21, 2025, the complainant, a resident of Yubabhai Road in Mumbai, had been living with her elderly mother following her divorce. With her livelihood depending largely on alimony, she had been cautiously managing her finances through two ICICI Bank accounts.
Her ordeal began in November 2024, when she received a WhatsApp message from a woman identifying herself as Niyati Khandelwal, claiming to represent an investment firm called “Yes Securities.” Promising daily returns of 10–20% through locked trading opportunities, Khandelwal lured the complainant into joining a WhatsApp group named K77-YES Phase 7 Layout Group. The group, managed by an unknown admin, regularly shared enticing messages and screenshots of supposed profits made by other investors.
On December 9, 2024, the victim of this Mumbai crime made her first investment of ₹10,000 after filling out KYC details on a website link sent to her by Khandelwal. Impressed by what appeared to be a growing virtual balance in her online trading account, she continued investing further amounts, including ₹5 lakh in January 2025, under the pretext of participating in an IPO.
As time passed, the scammers built her confidence by showing inflated virtual balances and fabricated returns. Eventually, she was asked to deposit ₹31 lakh more to “unlock” her IPO allotment, and later an additional ₹97,500 as processing charges by a so-called “Refund Department,” which contacted her via multiple WhatsApp numbers. When the complainant refused or hesitated, she was threatened that all her previous investments would be forfeited if she didn’t pay.
Over time, she made several transactions to various bank accounts, totalling nearly ₹62 lakh. However, when no returns were received and communication turned evasive, she realized she had been duped. She then approached the Cyber Helpline (1930) and subsequently filed a formal complaint.
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The FIR has been registered under multiple sections of the Indian Penal Code and the Information Technology Act, including charges of cheating, criminal breach of trust, impersonation, and online fraud.
This Mumbai crime is yet another stark reminder of how convincing cybercriminals can appear and the devastating financial impact such scams can have. Authorities have urged citizens to be extremely cautious when approached with investment offers on informal platforms like WhatsApp, and to verify all claims through official channels before transferring any money.
Investigations are ongoing, and police are working to trace the perpetrators’ identities and recover the defrauded amount. Meanwhile, the complainant continues to hope for justice and restitution.
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