Nagpur businessman duped of Rs 25.79 lakh by fake investment app

Lured by promises of high returns, a businessman from Nagpur's Manish Nagar area fell into a trap laid by cyber fraudsters and lost nearly Rs 25 lakh 79 thousand. To defraud the 55 year old businessman, the fraudsters first sent him an attractive investment offer on WhatsApp, then added him to a fake WhatsApp group, and finally got him to download a fake investment app.

According to police, starting July 8, the businessman began receiving investment related messages and advertisements from different numbers on his mobile phone. These messages claimed that investing would yield excellent returns. Initially, the fraudsters won the businessman's trust with small talk, then sent him investment links and asked him to transfer money.

To further build trust, the accused added the businessman to a WhatsApp group named "MOFSL VIP 814". Messages about investment details, claimed profits and other members' investments were posted in this group to make the whole setup look genuine. After this, the accused got the businessman to download an app called "MOFSL Pro". This app continuously showed the invested amount and its claimed returns rising on screen, convincing the businessman that his money was earning profit.

Trusting this, the businessman transferred money multiple times from his HDFC Bank account via RTGS and NEFT. In separate transactions, he sent a total of Rs 25 lakh 79 thousand 276 to bank accounts given by the accused.

The real trouble began when the businessman tried to withdraw his invested money. The money was not returned, and the accused gave no proper response either. It was then that the businessman suspected he had been a victim of cyber fraud.

The businessman then reported the entire matter to the cyber police. On receiving the complaint, police registered a case on September 22. The case has been registered under sections of the Bharatiya Nyaya Sanhita related to fraud, cheating by impersonation and forgery, along with related sections of the Information Technology Act.

Cyber police are now investigating the mobile numbers, WhatsApp group, fake app and bank accounts used by the accused. An inquiry into transactions in the accounts to which the money was transferred has also begun. No arrests have been made in the case so far.

Police are working to identify and arrest the accused, and to trace and freeze or recover the defrauded amount. Cyber police have appealed to people not to download any app at the instruction of an unknown person while investing online, and to thoroughly verify details before transferring money to any bank account.