Mumbai Seniors Lose Crores in Sophisticated Cyber Fraud Schemes

Two elderly victims in Mumbai and Navi Mumbai were defrauded of over ₹5.8 crore through elaborate scams involving fake loans and stock investments.

A 70-year-old businessman from Andheri was scammed out of ₹1.1 crore over a year while attempting to secure a ₹10 crore loan at low interest rates.
The businessman was manipulated into making 68 transactions after being contacted by fraudsters posing as financial institution representatives.
In a separate case, a retired government officer from Vashi lost ₹4.73 crore to a fake stock market investment scheme promoted via Facebook and WhatsApp.
The Vashi victim was lured by initial fake profits and convinced to invest larger amounts through a fraudulent app and multiple bank transfers.
Police investigations are underway in both cases, with authorities urging the public to verify financial offers and investment opportunities through official channels.