Mumbai: A retired Bhabha Atomic Research Centre (BARC) scientist has allegedly been duped of Rs 1.3 crore in a sophisticated online stock trading fraud scheme operated through a WhatsApp group. The fraudsters showed him virtual profits of several crores, and when he tried to withdraw, was informed that his account was blocked, and he was allegedly told that he would have to invest an additional Rs 82 lakh in an IPO to reactivate the account.The complainant, a retired scientist-B residing in Govandi who has lodged an FIR with the East region cyber cell, was added to a WhatsApp group on April 30, 2026, without his consent. The group was allegedly managed by persons identifying themselves as Meera Iyer and others using multiple Indian and foreign mobile numbers.He told police that Iyer shared a link to an application called “APLCHWM APP” through the WhatsApp group and persuaded him to register on the platform. After registration, he was encouraged to invest in stock market trading and assured of substantial returns. Another individual, identifying himself as Vijay Kumar, allegedly reinforced the investment proposal through WhatsApp messages and guided him regarding investments.Believing the representations made by the accused, the victim transferred money to various bank accounts provided by them for purchasing shares. The app allegedly displayed his investments and reflected growing profits, which increased his confidence in the scheme.Police said that between April 30 and June 10, 2026, the victim invested a total of Rs 1.3 crore. The application later showed a balance of Rs 1.38 crore, including purported profits. However, when he attempted to withdraw the funds, his trading account was allegedly blocked.When he contacted the accused, he was allegedly told that he would have to invest an additional Rs 82 lakh in an IPO to reactivate the account and withdraw his money. Suspecting fraud, he approached the National Cyber Crime Reporting Portal and later filed a complaint with the East Division Cyber Police Station on June 16.Police have registered a case against the unidentified operators of the WhatsApp group, the mobile number holders, the app operators, and the beneficiary bank account holders for allegedly cheating the complainant of Rs 1.3 crore. Investigations are underway.
