Cyber Fraud in Chhatrapati Sambhajinagar: Fake Trading Apps Swindle ₹9.6 Crore from Investors

Cybercriminals in Chhatrapati Sambhajinagar used share‑market trading apps and WhatsApp lures to defraud well-educated investors of around ₹9.62 crore over the past year, police report.

Chhatrapati Sambhajinagar , 25 November 2025: In a large-scale cyber fraud case unfolding in Chhatrapati Sambhajinagar, scammers have duped investors of approximately ₹9.62 crore over the past year. The fraudsters used the promise of high returns in the share market, fake trading apps, and social media tactics to lure mainly highly educated individuals.

According to police records, at least 40 separate incidents have been registered, indicating a well-organized network targeting people with financial literacy. Victims were enticed with messages on WhatsApp that promised rapid gains, visible profit reports, and membership in exclusive groups. The fraudsters then directed them to download a trading application that appeared legitimate but was actually under their control.

In one case, a 33-year-old woman working from home in a private company invested more than ₹26.5 lakh after being persuaded to use such an app. She later realised she had been scammed after the app blocked withdrawals and communications with the scammers went silent.

Another businessman from the city lost ₹73 lakh after downloading an app named “Premji Invest” and investing through bank instructions given by the fraudsters.

Cyber police in the region are investigating these cases under IT Act and fraud-related provisions. They warn citizens to be cautious of unsolicited investment offers, especially those that promise unusually high returns. Authorities also advise verifying whether a trading app is registered with SEBI before investing.

In parallel, the Chhatrapati Sambhajinagar Rural Cyber Police Unit says they have recovered ₹17 lakh lost to similar online fraud schemes this year, but stress that much more work is needed to curb the proliferation of these scams.

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