Fraudster identifies himself as a ‘foreign expert’ on stock market trade, adds victim to a WhatsApp group ‘F40 Stock Market Strategy Exchange Group’
The fraudsters duped the victim of R4 lakh on January 13. REPRESENTATION PIC
A 35-year-old man from Kanjurmarg East was duped by a “foreign expert” in a fake stock market trading scam, losing Rs 11 lakh. Police said that the fraudster allegedly used the name Brian A Christiansen to project credibility to lure the victim into a bogus investment scheme. According to the police, the victim was first contacted on January 8 and added to a WhatsApp group titled “F40 Stock Market Strategy Exchange Group”, which had around 140 members.
The group was administered by accounts using the names Dinesh Singh and Gurram Madhavi, along with another international number starting with +44, a dialling code belonging to the United Kingdom. According to the victim, the members in the group regularly posted screenshots of supposed trading profits to build trust.
Soon after, the victim was contacted by a profile using the name Christiansen, who sent the victim a registration link and persuaded to download a mobile application — SANDS INV APP, where his investments appeared to generate attractive returns. The app even displayed notional profits of around Rs 8 lakh, making the scheme appear genuine.
Trusting the claims, the victim transferred Rs 4 lakh on January 13 and Rs 7 lakh on January 16 to bank accounts provided by the accused. The fraud unravelled when the accused demanded an additional Rs 47 lakh, claiming it was necessary to enable withdrawal of the displayed profits.
Realising he had been cheated, the victim first reported the matter on the national cybercrime helpline 1930 on January 21, and then approached the cyber police, leading to registration of the FIR at the cyber police of the east region. Police are now analysing bank trails, mobile numbers and digital evidence to trace the accused.
To report cyber fraud call 1930 or log on to www.cybercrime.gov.in
Do
>> Verify investment advisors through SEBI’s official website
>> Be cautious of unsolicited WhatsApp/Telegram stock tip groups
>> Use only registered, well-known trading platforms
>> Enable transaction alerts and regularly monitor bank statements
>> Report fraud immediately to increase chances of fund freezing
Don't
>> Do not trust “guaranteed returns” or pressure tactics
>> Do not download unknown apps via shared links
>> Do not share OTPs, banking details, or KYC documents
>> Do not send money to personal accounts for investment purposes
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