MUMBAI: A 69-year-old retired dentist from Ghatkopar East was duped of ₹3.62 crore over a span of six months by cyber fraudsters who lured her with promises of high returns from share market investments. A case in the matter was registered on Tuesday.
According to the East Region Cyber Police, the complainant was contacted in August 2025 by a person identifying himself as Kunjan Patel, who offered to teach her share trading. He sent her a link to download a trading application and convinced her to start investing.
She initially invested ₹16,000, and within a day, her virtual account reflected a profit of ₹5,000. Encouraged by the apparent returns, she continued investing larger sums as the application showed rapidly increasing profits.
Police said that between August 2025 and February 2026, she made 46 transactions, transferring approximately ₹3.62 crore to the fraudulent platform.
Eventually, she exhausted her savings and called her son in the United States, asking him to send money for further investments. Her son searched online and discovered that the trading platform was fake, and urged her to approach the police.
A case has been registered under Sections 318 (cheating), 319 (cheating by personation), and 61 (criminal conspiracy) of the Bharatiya Nyaya Sanhita, 2023, along with relevant provisions of the Information Technology Act.