MUMBAI: The Bandra-Kurla Complex (BKC) police have registered an FIR against unidentified cyber frauds following a complaint by the National Stock Exchange (NSE), alleging that investors were cheated using the exchange’s name and photographs of its senior executives.
According to the police, the frauds created multiple online groups on platforms such as Telegram, where they used photographs of senior NSE officials, including that of the managing director and chief executive officer, to gain the trust of investors. They allegedly lured victims by promising high returns on stock market investments routed through them.
The case was registered after NSE officials became aware of the misuse and approached the police. The complaint was filed by Vaibhav Parvat, a deputy manager in the NSE’s law department, based at its BKC office.
During an internal review, NSE officials discovered that a woman identifying herself as Jyoti Gandhi had been approaching companies while posing as an NSE executive and seeking confidential information. A verification of employee records revealed that no such person was associated with the exchange. Investigators found that the woman had morphed her photograph with the NSE board background to appear as a genuine employee.
“They approached people through Telegram and other platforms, promising handsome returns on investments and cheating them by misusing the name of the exchange,” a police officer said.
In another instance, the police found that an unidentified mobile number was being used to impersonate the NSE’s MD and CEO, Ashish Kumar Chauhan. Posing as the head of the exchange, the fraudsters allegedly contacted people and persuaded them to invest in the stock market, claiming their tips would generate substantial profits.
“We have registered a case against unknown persons under Section 66(c) of the Information Technology Act, 2000, which deals with identity theft,” the officer said, adding that the police would write to the relevant digital platforms to obtain user details as part of the investigation.