A recent First Information Report (FIR) filed with the Cyber Crime Police Station in Mumbai has exposed a meticulously planned online share trading scam that defrauded a 64-year-old resident of Andheri, Mumbai, of a staggering ₹53.59 lakhs.
Rajiv Venu Tewani, a long-time resident and wealth management professional, fell prey to a convincing scam operating under the guise of a reputed investment firm. It all started with a WhatsApp message from an unknown number promoting investment opportunities in the stock market through a company appearing to be legitimate. Drawn by the impressive returns promised, Rajiv contacted them and was eventually added to a WhatsApp group.
The group included multiple contacts posing as financial advisors, including individuals using the names Kangana Sharma, Ashish Kehair, and Samridhi. They gained Rajiv’s trust by sharing market tips, investment strategies, and promises of high profits. Kangana Sharma especially played a central role in persuading Rajiv to invest. She sent him a link and helped him create login credentials for an account.
Things escalated when he was asked to provide his PAN card for KYC registration, link his bank accounts, and set up a trading password. What followed was a series of payments to various individuals and shell companies, under the belief that these were legitimate investment transactions. Rajiv made 11 payments between April 16 and May 6, 2025, with the largest single transaction being ₹36.74 lakhs. The cumulative amount he transferred reached ₹53,59,000.
However, when he asked to withdraw or get returns on his investments, the scamsters’ responses changed. They began stalling, offering excuses, and pressuring him to invest even more to “unlock” his funds. When Rajiv finally refused to pay further, communication dwindled, and it became clear he had been deceived.
Recognising the fraud, Rajiv filed an FIR on June 10, 2025, detailing the scam, sharing all the transaction records, and naming the individuals and contacts involved. The FIR has been registered under multiple sections of the Indian Penal Code and the Information Technology Act.
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This case highlights a growing trend of online frauds that rely on impersonation, fake investment platforms, and social engineering. It underscores the need for vigilance, scepticism, and verification before engaging with any online financial platform, especially those initiated over informal channels like WhatsApp.
If you’re approached by individuals offering investment schemes online, primarily through messaging apps, do your research. Verify the legitimacy of the platform and seek professional advice. Always remember: if it sounds too good to be true, it probably is.
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