Thane resident loses ₹1.7 crore in online stock market investment fraud – how a Facebook message turned into a financial nightmare.
Background / Context
In the bustling suburb of Kasarvadavali, Thane, a 56‑year‑old businessman named Ravi Sharma found his savings evaporated after a series of online transactions that began with a seemingly innocuous Facebook message. The incident, which unfolded between November and December 2025, has drawn attention to the growing menace of social‑media‑based investment scams in Maharashtra and across India.
With the stock market’s volatility and the allure of quick gains, many investors are turning to digital platforms for advice. Unfortunately, the same channels are being exploited by cybercriminals who masquerade as seasoned traders, offering “guaranteed” returns. Sharma’s case is a stark reminder that the line between legitimate advisory services and fraudulent schemes is increasingly blurred.
Key Developments
According to the Thane Police Cyber Cell, the fraud began when Sharma received a private message on Facebook Messenger from a user identifying himself as Aman Gautam, a purported share‑market investment adviser. Gautam promised high profit margins and introduced Sharma to a WhatsApp group titled “Short Term Hunters 116.”
Once inside the group, another participant, Divya Mehra, instructed Sharma to download an app called Niv Pro from the Apple Store, claiming it was essential for opening a trading account. Sharma complied, and Mehra provided a list of bank account numbers for fund transfers.
- Transaction timeline: From 6 Nov to 19 Dec 2025, Sharma transferred a total of ₹1.7 crore across multiple accounts.
- Fabricated updates: The fraudsters sent regular messages with fake trading charts and profit statements to maintain Sharma’s confidence.
- Withdrawal attempt: When Sharma tried to withdraw his money, he faced technical glitches and vague excuses, eventually being locked out of the system.
- Silence: Both Gautam and Mehra ceased communication, leaving Sharma to realize he had been defrauded.
The police have registered a case under charges of online financial fraud and cheating against Gautam, Mehra, and the administrators of the WhatsApp group. The cyber cell is tracing the digital footprints of the Facebook IDs and bank accounts involved.
Impact Analysis
Sharma’s loss is not an isolated incident. Recent data from the Securities and Exchange Board of India (SEBI) indicates a 35% rise in online investment scams in the first quarter of 2026, with Maharashtra accounting for 22% of the total cases. The financial impact on individuals is profound:
- Average loss per victim: ₹3.2 crore.
- Number of victims in Maharashtra: 1,450 (as of March 2026).
- Estimated total loss: ₹4.6 trillion.
For students and young professionals, the implications are twofold. First, the lure of high returns can divert funds from essential education or career development. Second, the psychological toll of being scammed can erode trust in legitimate financial institutions.
Expert Insights / Tips
Financial crime analyst Dr. Meera Patel of the National Institute of Securities Markets (NISM) advises:
“Always verify the credentials of any investment adviser. Check for registration with SEBI, look for a valid PAN, and cross‑reference their claims with official market data. If an adviser asks you to download an unfamiliar app or provide bank details, it’s a red flag.”
She adds that students should:
- Use official brokerage platforms that are SEBI‑registered.
- Keep a record of all communications and transactions.
- Report suspicious activity to the cyber cell or the Financial Intelligence Unit (FIU).
Cybersecurity specialist Rajesh Kumar recommends:
“Enable two‑factor authentication on all financial accounts, and be wary of links sent via social media. A simple click can lead to phishing sites that mimic legitimate trading portals.”
Looking Ahead
The Thane Police Cyber Cell has announced a joint task force with SEBI and the Ministry of Finance to crack down on social‑media‑based investment scams. Planned measures include:
- Real‑time monitoring of flagged Facebook and WhatsApp accounts.
- Public awareness campaigns in schools and colleges.
- Mandatory disclosure of adviser credentials on brokerage websites.
Meanwhile, SEBI is drafting new guidelines that will require all investment advisers to undergo a background check and maintain a public record of their trading performance. These steps aim to restore confidence in the market and protect vulnerable investors.
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