Mumbai: A shocking case of fraud has come to light in Mumbai's Colaba area where cyber fraudsters duped a retired ship captain of over Rs 11.16 crore by promising massive profits in the stock market. Upon realizing the fraud, the complainant filed a case against two unidentified individuals with the South Regional Cyber Cell, which is currently investigating the case.

Victim Was Added To WhatsApp Group

According to South Regional Cyber Cell officials, the victim, 75-year-old Zhakshis Kosa Wadia, a retired ship captain who retired in 1985, was added to a WhatsApp group called "Motilal Oswal Investment Club 17" on August 19, 2024.

The group shared information about stock market investments, gradually gaining Wadia's trust. He was later sent a link that opened an account in the name of Motilal Oswal OTC. Subsequently, a woman named Ananya Smith contacted him, offering guidance on investments.

Following her advice, Wadia transferred a total of Rs 11,16,61,161 to 22 different bank accounts for investments. He was shown significant profits on an app created by the cyber fraudsters. However, when he attempted to withdraw the funds, Ananya demanded a 20% tax payment. This raised Wadia’s suspicion, prompting him to approach the Motilal Oswal company, where he discovered the fraud. A case has been registered, and the Cyber Cell is pursuing further investigation.