MUMBAI, April 8, 2025 — In yet another alarming case of cyber fraud, a 64-year-old pensioner from Mumbai was reportedly duped of ₹49.10 lakh in a sophisticated investment scam that operated through fake WhatsApp groups and a fraudulent trading application.
According to the complaint lodged with the Cyber Police Station, Central Division, Worli, the victim was lured into two WhatsApp groups named “F2-MSF Securities Charity Aid” and “VIP-MSF Securities Charity Aid”. The groups were run by individuals posing as investment advisors from an entity called "MSF Securities Charity Aid."
The fraudsters, identified as Sovit Dwivedi, Aaliya Gaur, and Aisha Sharma, used various mobile numbers to communicate with the victim. They convinced her to invest in stock market schemes using a deceptive trading app called QuantsAIS, which was manipulated to display fake profits and returns.
The scam unfolded over a six-week period between November 20, 2024, and January 5, 2025. Enticed by the promise of high returns, the victim made multiple fund transfers amounting to ₹49.10 lakh into various bank accounts as instructed by the perpetrators. However, the promised profits never materialized, and the accused disappeared after the final transaction.
The victim has submitted crucial evidence, including screenshots of WhatsApp conversations and transaction records, to assist investigators. An FIR has been registered, and cybercrime officials have begun tracking the fund trail and identifying the bank account holders involved.
Authorities have reiterated warnings against participating in investment schemes circulated via unverified social media platforms and unofficial mobile applications. “Citizens are urged to remain vigilant and refrain from investing through any app or group not regulated by SEBI or RBI,” a cyber official stated.
This case adds to the growing list of cyber fraud incidents targeting vulnerable individuals, especially senior citizens, through the use of social engineering and digital manipulation.
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