28 March,2026 10:00 AM IST | Mumbai | Abhitash Singh
The complainant started using the fraudulent app in January 2023. REPRESENTATION PIC/ISTOCK
In a major cybercrime crackdown, the Navi Mumbai police have arrested two men, including a leading securities firm employee, for allegedly duping a man of over Rs 65 lakh through a fake online gaming platform that promised lucrative returns.
The accused have been identified as Vishal Ramratan Jaiswal, 26, an assistant manager with a leading securities firm, and Avesh Dharmendra Verma, 26, a resident of Jogeshwari. Both were arrested on March 24 by the Navi Mumbai Cyber Police.
Several attempts made by the mid-day to contact the securities firm did not yield any response till press time.
The complainant was lured into investing on a platform called âSAT Sports', which projected itself as a legitimate listed gaming company. He was encouraged to invest in online games like âTeen Patti' and âCasino', with fake profits displayed on the portal to build trust. Between January 2023 and February 2026, the complainant ended up losing Rs 65.16 lakh.
"Initial investigations revealed that the accused were procuring SIM cards in India and activating them for associates based in Dubai. We suspect a larger international syndicate may be involved. We are probing the financial trail and foreign links," said Senior Police Inspector Vishal Patil of Navi Mumbai Cyber Police.
Police sources said the involvement of a bank employee raises serious concerns about the misuse of financial systems. Authorities are now examining whether more insiders or facilitators are part of the racket.
Police urge citizens to immediately report suspicious calls, messages, or platforms via the National Cybercrime Portal (1930), or www.cybercrime.gov.in, to prevent further losses and help track down fraud networks.
Experts advise verifying the authenticity of platforms through official regulatory bodies and avoiding transfers to unknown accounts. Investors should cross-check company credentials, licences, and online reviews before committing money.
>> Cybercrime officials have cautioned against platforms that promise unusually high returns with little or no risk. Such scams are often hidden behind polished websites, professional branding, and claims of international operations to appear credible.
>> Fraudsters typically lure victims by showcasing fake profit dashboards, manipulated screenshots, and "successful" transaction histories. Many victims are initially allowed to withdraw small amounts to gain confidence before being pushed to invest larger sums.
>> There are no shortcuts to guaranteed profits, so no financial institution or investment platform will assure such returns. Any scheme making such claims should be treated as a potential scam.
March 24
Day duo was arrested
