Mumbai cyber police have uncovered two separate online share trading scams that defrauded victims of Rs 61.5 lakh.
In the first case, a 61-year-old retired Mazgaon Dock employee from Vikhroli transferred Rs 25.8 lakh via RTGS to an individual named Himanshu on November 6, 2024. The victim initially received small withdrawal amounts totaling Rs 1.2 lakh between December 2024 and March 2025, creating the impression of legitimate trading. By July this year, the retiree realized he had been cheated.
In the second case, a 40-year-old senior IT consultant was introduced to a trading group managed by Devanshi Parekh and associates Vineet Maheshwari, Riya Vashishtha, Rider Rohan, and Luna Ram Devasi. The group persuaded the victim to download the Neo Sysmt trading app and invest in block trading and IPOs. Between October 18 and November 6, 2025, the victim transferred Rs 35.7 lakh to accounts controlled by the accused.
