In a rare case of parallel cyber frauds, two separate gangs duped a 50-year-old former banker from Matunga of over Rs 23.17 lakh — both operating simultaneously under the guise of stock market investment schemes. 

The victim was lured through Facebook ads into downloading fake mobile apps and joining WhatsApp groups that promised high returns. By the time he realised the trap, he had already transferred Rs 23.17 lakh across 24 transactions, police said.

In both instances, the victim was tricked into downloading fake mobile applications via WhatsApp groups created by fraudsters posing as representatives of reputed investment firms. According to an officer from the Central Region Cyber Police, separate gangs were involved in the two scams but used similar modus operandi.

The complainant, who previously worked with a reputed private bank, first came across an advertisement for stock market trading on Facebook on July 20. Upon clicking the ad, he received a message from a person who introduced himself as Mangalam Ganesh, falsely claiming to be a representative of Anand Rathi Securities.

Ganesh added the victim to a WhatsApp group named ‘X4 Wealth Growth Guide’ and shared a link to download a mobile app called ‘anandrathi.top’. Initially, the complainant invested Rs 10,000 and saw his account value rise to Rs 10,400. Convinced by the small profit, he went on to make 21 separate transactions, transferring a total of Rs 20.45 lakh to the fraudsters, the officer said. 

In a second incident on July 25, the complainant responded to another Facebook ad, after which a woman identifying herself as Ankita Ghosh contacted him. She added him to a WhatsApp group named ‘BobCap 70’ and sent him a link to download an app called ‘BobCap’.

As per her instructions, the complainant initially invested Rs 50,000 and was shown a return of Rs 10,400. Encouraged by this apparent gain, he transferred an additional Rs 1.5 lakh, said the officer.

Both apps consistently showed artificial profits, leading the complainant to believe the investments were legitimate. However, in the last week of September, the victim was first removed from the ‘X4 Wealth Growth Guide’ group. When he asked Ganesh, he was told that a new group was being created. 

At that time, the complainant requested a withdrawal of Rs 5 lakh, as he needed funds urgently. Ganesh advised him to place a withdrawal request through the app. However, when no funds were credited and Ganesh stopped responding, the complainant suspected foul play.

He then attempted to withdraw his funds from the ‘BobCap 70 app’ as well. When he failed, he contacted Ghosh, who initially told him to wait. Shortly after, he was also removed from that WhatsApp group.

Realising he had been duped by both investment platforms, the complainant contacted the Cyber Crime Helpline 1930 and filed a complaint.

Based on his statement, the Central Region Cyber Police registered an FIR on Saturday under relevant sections of the Information Technology Act (Section 66D) and the Bharatiya Nyaya Sanhita (BNS) Sections 3(5), 318(5), 319(2), 336(2), 336(3), 338, and 340(2).

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