Online Investment Scam: Retired Executive Duped of Crores

A retired private company executive was defrauded of Rs 2.60 crore by two groups promising high returns on stock market investments through deceptive online ads. He was guided by suspicious Whatsapp groups based on misleading information. Cyber police have launched investigations to apprehend the perpetrators.

Devdiscourse News Desk | Mumbai | Updated: 04-08-2025 20:44 IST | Created: 04-08-2025 20:44 IST

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A retired executive from a private company was swindled of Rs 2.60 crore by two groups assuring high returns on stock market investments, according to a police official's statement on Monday.

The victim initially encountered a Facebook advertisement promoting such investments and subsequently joined a Whatsapp group, whereupon he invested Rs 56.20 lakh following the group's guidance, the official disclosed.

He later accessed a second Whatsapp group through another advertisement, leading to a loss of Rs 2.07 crore when he could not withdraw purported profits. Central Region cyber police have filed a case and are actively pursuing the suspects, the official noted.

(With inputs from agencies.)