A 48-year-old senior manager from Thane, Maharashtra, has lost nearly ₹3.96 crore after being lured into a fraudulent share-trading scheme run via a WhatsApp group, according to cyber police.
Between May and October, the victim was persuaded to invest by three people, one, a WhatsApp group admin named Shankar Ramrakhiyani, who falsely claimed links with a securities firm, and a woman identified as Suraksha.
They promised high returns, set up what seemed like a legitimate investment system, and once he transferred the money to multiple bank accounts, the scammers cut off communication. Thane cyber police have registered a case and are investigating the financial and digital trails.
How Thane Scam Worked
Fraudsters used WhatsApp to add the victim to a group supposedly connected to a securities firm. Through that group, they pitched “structured equity schemes” with promises of large profits.
To create an air of legitimacy, they shared trading links, showed fake account activity, and used structured-sounding financial terms. Once the money was transferred, they ghosted him.
Police believe the scammers used multiple bank accounts and false documentation, which made the scheme appear trustworthy until it was too late.
Rising WhatsApp Scams
This case is not isolated. Similar scams in Thane and other parts of Maharashtra use WhatsApp groups as a front to trap investors with the lure of “insider” stock tips and huge gains.
Cyber experts say such groups often create fake trading platforms or use imitation broker names. They build trust, push investments, and then disappear once money is transferred.
Victims are often middle-aged professionals or retirees, people who trust financial advice but may not double-check the credentials of the people giving it.
How to Stay Safe: Tips to Avoid Such Frauds
- Avoid Investing via WhatsApp Groups: Be skeptical of investment opportunities pitched in chat groups. Legitimate financial firms don’t usually run WhatsApp groups to solicit investments.
- Verify the Platform: Before investing, check whether the broker or trading platform is registered with SEBI (Securities and Exchange Board of India). Use official websites.
- Never Transfer Huge Sums Without Proof: Ask for audited statements or proof-of-concept. If someone demands big money upfront, it’s a red flag.
- Maintain Records: Keep a copy of chats, bank transactions, and any documents shared. These can be crucial if you need to report a crime.
- Report to Cyber Police Immediately: If you suspect a scam, file a complaint at your local cyber cell or use the national cybercrime reporting portal. Acting fast can help in stopping further damage.
The Logical Indian’s Perspective
This incident reflects the growing dangers of cyber financial fraud in an increasingly digital investment landscape. Awareness, vigilance, and regulatory oversight are crucial to protect investors from such sophisticated scams. Public education about due diligence and reporting suspicious activity promptly must be prioritised to foster safer investment environments.
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