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Navi Mumbai Trading Scam Crackdown Follows New Complaints Totaling ₹5.41 Crore

Police report foreign links after seven arrests with 118 bank accounts frozen.

Overview

  • Two engineers in Nerul and Kharghar lost ₹2.73 crore and ₹2.68 crore after being steered from WhatsApp groups to cloned trading apps that blocked withdrawals.
  • FIRs in the Navi Mumbai cases invoke BNS provisions for cheating, impersonation, forgery and organized crime, along with IT Act Section 66D.
  • In a parallel probe, cyber police arrested seven suspects, froze 118 accounts holding ₹32.5 lakh, and mapped a ₹1.07 crore racket built on fake investment platforms.
  • Investigators say three accused forwarded OTPs via the Okay Go SMS & Sender app to handlers in China and Cambodia who coordinated over Telegram.
  • Related reports include a ₹1.68 crore Mumbai case filed on November 2, a ₹7 lakh Wadala complaint linked to a Uttar Pradesh gang, and police cautions following a Hooghly matrimonial fraud nearing ₹3 crore.