CBI Probes ₹2 Crore Cyber Scam Targeting Retired Professor Through Fake Investment WhatsApp Group

Mumbai: The Central Bureau of Investigation (CBI) has launched an investigation in a cyber crime case wherein a retired professor had lost nearly Rs 2 crore to investors in shares investment fraud.

The scammers had created a WhatsApp group in the name of a financial services company based in Mumbai and induced the complainant to transfer money in different beneficiary bank accounts.

According to the CBI, a written complaint was received from a retired professor residing at Visakhapatnam, wherein he complained that during April 19 and May 30, he received a message to join in a WhatsApp group created in the name of a financial services company based in Mumbai for guidance and investment purpose.

The complainant joined the said WhatsApp group. Thereafter, he received one weblink which was shared to him to signup for starting investment. The scammers contacted the complainant on behalf of the company through WhatsApp. Subsequently, he created an account by using the said web link shared to him.

"Initially, he invested Rs.10,000 on 19-04-2025 to check the authenticity of this investment and withdrew an amount of Rs 13,000 which was approved and the amount was credited into his bank account. Subsequently, he made several investments to a tune of approximate Rs 1.92 crores in the name of investments in different stocks from 19-04-2025 to 27-05-2025," said a CBI official.

Later, he identified that the value of his investment was shown as Rs 35 crores in the trading app. He tried to withdraw Rs 5 crores, but he failed. When he contacted the scammers he was told to pay a commission of Rs. 32 lakhs, but on negotiations, it was brought down to Rs 7.90 lakh. Accordingly, he paid Rs 7.90 lakh as commission on 30-05-2025 and still he was unable to make any withdrawal.

He then realised that he was cheated through a cyber scam after which he approached the CBI and got an offence registered in the matter. A case has been registered by the CBI on charges of criminal conspiracy, impersonation and cheating under the provisions of the Bharatiya Nyaya Sanhita and Information Technology Act.