Bank manager loses ₹1.35 crore in investment fraud

A bank manager in Mumbai lost ₹1.35 crore due to an online investment fraud. The 45-year-old assistant general manager of Bank of India was tricked into believing she was making a profitable investment. Police are currently investigating the case. The victim received a message on WhatsApp on December 9, 2024, from someone named 'Sovit Dwivedi.' He invited her to join a group sharing tips about stock market investments. After observing the group's messages, she was convinced to invest her money. Two women, claiming to be associates of Dwivedi, asked her to download two apps: QuantsAIS and Angel One. They obtained her Aadhaar number and set up a fake trading account. Between December 10 and January 21, the victim transferred over ₹1.35 crore to accounts controlled by the fraudsters. The apps showed her that she had made significant profits, indicating her investments were worth ₹6 crore. However, when she tried to withdraw her funds, she faced obstacles. Customer service provided vague responses, and eventually, the scammers cut off communication with her. The police have registered a case against unknown individuals for cheating, based on the victim's complaint. The case falls under relevant sections of Indian law, including the Bharatiya Nyaya Sanhita, 2023 and the Information Technology Act, 2000.