Retired Air Force Officer and Thane Man Lose Over ₹1.9 Crore in Share Market Scams

Two individuals were duped by cybercriminals through fake trading apps and WhatsApp groups promising high returns on investments.

A 63-year-old retired Air Force officer from Mumbai lost ₹1.45 crore in a share market scam after being lured into transferring funds via a fraudulent app promoted on WhatsApp.
The victim was added to a WhatsApp group, 'Point Bre,' where scammers provided investment tips and persuaded him to download a fake trading app.
The app displayed an inflated virtual balance of ₹8 crore, but the victim was unable to withdraw funds, leading him to suspect fraud and file a police complaint.
Separately, a 66-year-old man from Thane lost ₹47 lakh to a similar scam initiated through a fake Facebook ad and executed via WhatsApp and a bogus trading app.
Police have registered cases under the Information Technology Act and are investigating both incidents, with victims providing details of the scammers, apps, and transactions.