Navi Mumbai Cyber Fraud: 59-Year-Old Nerul Entrepreneur Duped Of ₹1.41 Crore In Fake IPO Investment Scam; Case Registered
· Free Press Journal
Navi Mumbai, August 29, 2026: A 59-year-old woman entrepreneur from Nerul was allegedly duped of Rs 1 crore 41 lakh 56 thousand by cyber fraudsters who lured her with promises of high and assured returns from IPO investments.
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The accused allegedly used a fake investment application and a WhatsApp group to convince her that her investment had grown to Rs 3 crore 1 lakh 82 thousand.
The Navi Mumbai Cyber Police have registered a case against unidentified persons under Sections 318(4), 319(2) and 3(5) of the Bharatiya Nyaya Sanhita, 2023, along with Section 66(D) of the Information Technology Act.
“Investors should not trust investment offers received through WhatsApp or other social media platforms without verifying the credentials of the company. Fraudsters often use fake applications and display fictitious profits to gain the victim’s confidence. People should immediately report suspicious transactions to the cybercrime helpline and police,” said a police officer.
WhatsApp Contact And Investment Offer
According to the complaint, the woman, who resides in Sector 21, Nerul, was contacted on WhatsApp on July 20 by a woman identifying herself as Ananya Srinivasan. She allegedly claimed that she was associated with Exclusive Securities Limited, a SEBI-registered company, and offered the woman an opportunity to invest in IPOs with low risk and assured returns.
After the woman agreed to invest, the accused allegedly instructed her to download an application named 'Exclusive' and added her to a WhatsApp group. The fraudsters then allegedly directed her to transfer money through various bank transactions.
Rs 1.41 Crore Transferred
Acting on their instructions, the woman transferred Rs 1 crore 41 lakh 56 thousand between July 26 and August 5 to bank accounts allegedly provided by the accused.
The fake application subsequently showed that her investment had generated profits, with the total amount displayed as Rs 3 crore 1 lakh 82 thousand. When the woman attempted to withdraw the money, however, she was unable to do so.
When she questioned the accused, they allegedly sent her a fake screenshot claiming that Rs 3.01 crore had been credited to her account. They then demanded an additional 10 per cent payment under the pretext of a 'risk management system' to facilitate withdrawal of the funds.
Company Verification Raises Suspicion
The woman became suspicious and contacted the concerned company's office to verify the claims. She was allegedly informed that Ananya Srinivasan had already left the company and that SEBI had imposed restrictions on the company.
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Mumbai Cyber Fraud: 68-Year-Old Retired Woman Duped Of ₹7.21 Crore In ‘Digital Arrest’ Scam; FIR RegisteredRealising that she had been cheated, the woman approached the cybercrime portal and the Navi Mumbai Cyber Police.
Police are now tracing the bank accounts to which the money was transferred and examining the digital and communication trails to identify the accused.
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