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The Perils of Online Investment Scams: A Mumbai Woman's Tale

In a time when online platforms guarantee ease and profitable prospects, the tale of Rani Kahar, a software engineer and entrepreneur from Malad, Mumbai, is a warning. Cheated out of ₹53.73 lakh by a fake trading company, her experience highlights the increasing threat of online investment frauds.

Mumbai woman duped of Rs. 53.73 lakh by fake trading firm

Rani's saga started with the introduction to a trading firm by an IT acquaintance promising high returns on investment. She was invited to a WhatsApp group of the company and a registration link was given to her. Having faith in the company's authenticity, she submitted her personal and banking information and invested in stages, ending up putting in nearly ₹60 lakh.


First, the firm repaid ₹6.25 lakh as profit, apparently endorsing its authenticity. Rani went on investing with this encouragement. But when she tried to withdraw her profits, she was stumped. The firm said it would adversely affect her credit history and asked for ₹90 lakh to enable the withdrawal. Then, she was requested to invest ₹44 lakh, with warnings of a 3% deduction of tax from February 2025.

Cyber Fraud

Increasingly suspicious, Rani probed the company and learned about its fraudulent practices. She gathered that the company had cheated a number of people from all over the country in the name of online trading. Upon realizing the seriousness of the issue, she went to the Cyber Cell and lodged a complaint.


The probe identified that Dinesh Rishpal Chawla, a 38-year-old male, was the scammer. Chawla had opened several bank accounts for cyber cheats, where they could deposit defrauded money and keep a commission. He was arrested on technical evidence and admitted during interrogation. Produced before a Borivali court, Chawla was sent to police custody, and a wider probe was launched to identify other perpetrators.

Cyber Crime

Rani's tale emphasizes how alertness is key in the age of cyberspace. Convenience comes with online portals, but it also runs risks. Consumers need to be careful, check the validity of investment prospects, and refrain from divulging intimate information without proper investigation.


Law enforcement officials have an important role to play in stemming cybercrime. Enhancing security systems, spreading awareness, and taking prompt action against cheats are the keys to safeguarding citizens from such frauds.


As we go about on the internet, Rani's experience reminds us to be careful and vigilant. Her guts in revealing the scam and taking action against it are admirable, and her experience should motivate others to keep safety foremost in online interactions.

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