Fraudsters misused the name of a reputed brokerage to trap the Ghatkopar-based IT professional through a convincing trading app
Representational pic/iStock
A 40-year-old senior consultant with a multinational information technology firm in Ghatkopar has filed a cyber-fraud complaint after losing Rs 35.71 lakh to an organised online scam run through a bogus trading platform.
Ironically, the complainant, Rajesh Desai (name changed), is a seasoned technology professional who handles large-scale digital systems for a living. But in October, he was drawn into what appeared to be a legitimate investment opportunity when his childhood friend introduced him to an online group called A2-Systematix. The group, he was told, specialised in “block trading” and used advanced market analysis to generate high returns. The name sounded like a well-known brokerage firm, Systematix Group, which however is not connected.
Alleged members of the group, including Devanshi Parekh, Vineet Maheshwari, and Riya Vashishtha, added him to a WhatsApp community where daily tips, profit screenshots and “expert advice” were shared. He was asked to download the Neo Sysmt app, a realistic trading interface. Between October 18 and November 6, Desai transferred Rs 35.71 lakh via IMPS and RTGS to various accounts with the aim of buying shares or IPOs through the app.
When he finally requested a withdrawal, the app showed an “account frozen” message, and one of the accused demanded another Rs 5 lakh to “unblock” it. Realising he had been duped, the consultant approached the police, who are now tracing multiple bank accounts and digital identities linked to the racket.
Fake or real?
Cybercrime officials say scamsters now deploy “profit-simulation” apps, platforms that mirror genuine trading dashboards and show rising balances to gain victims’ trust. These apps often carry names similar to established firms, and generate fake profit screenshots.
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Call or visit cybercrime.gov.in to report online fraud immediately.
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