Mumbai: A shocking cyber fraud case has surfaced from Mahim West, where cyber fraudsters allegedly cheated a man of ₹14.25 lakh by luring him with a promise of selling rare coins for crores of rupees. The fraudsters used a fake Reserve Bank of India (RBI) approval certificate to carry out the scam.
Based on the victim's complaint, the Mumbai Central Region Cyber Cell has registered an FIR against two unidentified individuals and has begun an investigation. According to officials from the cyber cell, the complainant came across an advertisement on YouTube between September 20, 2024, and May 10, 2025, which claimed to offer high returns for old and rare coins. The complainant responded to the advertisement and contacted a mobile number listed in it.
The caller identified himself as Nitin Kumar and claimed to be an agent working with a rare coin valuation company. He asked the complainant to send pictures of his old coins and currency notes. Nitin then falsely claimed that the rare coin in question had been certified by the RBI for promotional purposes and was valued at ₹1.24 crore.
To gain the complainant’s trust and intimidate him, the accused mentioned that the transaction was under government surveillance and involved the CBI cyber cell.
Under the pretense of avoiding legal trouble and ensuring smooth processing, the complainant was coerced into transferring a total of ₹14,25,420 into various bank accounts over a period of time. When the complainant realized he had been duped, he approached the cyber police and filed a formal complaint. The investigation into the scam is currently ongoing.
