Mumbai Cyber Fraud: 57-Year-Old Mulund CA Duped Of ₹97.24 Lakh In Fake Online Share Trading Scam; Case Registered

Mumbai: A 57-year-old Chartered Accountant from Mulund East has fallen prey to a sophisticated online share trading scam, losing a staggering Rs 97.24 lakh. The fraud was allegedly carried out through a fake trading app named "R Gara", promoted via WhatsApp groups.

According to a complaint lodged with the East Region Cyber Police Station, the victim, a resident of Mulund East for the past three decades, runs a private CA practice. He reportedly came across a WhatsApp group titled “Practice Proves Truth, R Gara” on October 4, 2024. The group, with 80–85 members, actively discussed stock trading strategies and shared promotional content linking to the app (app.kerieds.com).

The group was managed by individuals using the names Arjun Hinduja, Ishani Mehta, Sneha Bansal, and members claiming to be from “H18 RBL Customer Service Center.” Hinduja posed as a trading professor, while Mehta gave step-by-step trading instructions.

On Mehta’s advice, the victim downloaded the R Gara app, registered with his mobile number, and was added to a VIP group for advanced trading tips. Following their guidance, he began transferring funds into bank accounts shared by the group’s so-called customer service representatives.

Over the course of October 4 to 29, 2024, the victim made multiple transfers totaling Rs 97,24,500, encouraged by the consistent "profits" shown within the app. He was later asked to invest further in IPOs, and when he refused due to the high amount demanded, he was told he could not withdraw his existing investments—triggering suspicion.

Upon realizing he had been duped, the victim filed an official complaint with the East Cyber Police Station on February 14, 2025. He had also lodged an online complaint earlier on January 5 via the national cybercrime portal.

The FIR states that the accused manipulated the victim with fake trading profits, used fraudulent bank accounts, and made false promises of high returns to lure him into a well-planned scam. Police have launched an investigation and are currently tracing the digital trail of the accused.