Mumbai: A 40-year-old woman from Mumbai was defrauded of Rs 2.9 lakh after she fell prey to a fraudulent investment scheme promoted through a Facebook advertisement. The cyber fraudsters lured her by promising high returns through investments in shares and IPOs under the guise of a fake Motilal Oswal study group on WhatsApp.
Victim Identified as Ghatkopar Resident
The victim, Manisha Jayaram Patel, a resident of Pantnagar in Ghatkopar (East), works with a private company, while her husband is a professional in the share market. According to the complaint filed with the Pantnagar police, the incident began on July 11, when she came across an ad on Facebook that claimed to offer lucrative investment opportunities in stocks and IPOs with high returns.
Lured into Fake WhatsApp Group
After clicking on the advertisement link, she was directed to a WhatsApp number where she was offered exclusive discounts ranging from 5% to 30% on select share purchases. To proceed, she was asked to open a "QYBI" investment account using a link sent to her, where she submitted personal details including her name and Aadhaar card number.
Scammers Use Fake Motilal Oswal Branding
Shortly after, she was added to a WhatsApp group named "[E7] Motilal Oswal Study Group," which falsely appeared to be affiliated with the renowned financial firm. She was then guided to invest in stocks like Tata Power and highway infrastructure projects. Payments were collected through the following UPI IDs: bhumi-26@ptaxis, jha11-5@ibl, venusenterprises@slc, and nonyjod220@ptyes.
Initial Profit Shown to Build Trust
Manisha first transferred Rs 50,000, supposedly to purchase shares of Tata Power. Her QYBI account soon began reflecting a profit of Rs 4,700. Encouraged by this apparent gain, she was persuaded to invest further in shares. Over time, she invested a total of Rs 2.9 lakh.
Withdrawal Requests Ignored
However, suspicions arose when she realized that the group was repeatedly asking for money without allowing withdrawals or giving proper transaction details. When she refused to pay more, the scammers abruptly cut all communication.
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Case Registered with Cyber Police
Realizing she had been duped, Manisha filed a complaint with the Cyber Crime Helpline 1930 and at the Pantnagar Police Station. A case has been registered against unknown individuals under relevant sections of the BNS and the IT Act.
