Mumbai senior loses ₹11 crore in fake trading app scam
India
A 68-year-old businessman from Churchgate, Mumbai lost nearly ₹11 crore to a slick online trading scam between December 2025 and January 2026.
He was added to a WhatsApp group called "Trader Titan VIP Group," where scammers promised huge returns on Indian and US stocks.
Drawn in by the hype, he invested through a fake trading app that showed only made-up profits.
Scam unravels, police on the case
When the businessman tried to withdraw his supposed earnings, the fraudsters demanded an extra ₹8 crore to release his funds—after which activity on the WhatsApp groups stopped abruptly.
He quickly reported it to the cyber helpline and police.
Mumbai Police have registered a case for cheating and forgery under several laws.