Kandivali Police in Mumbai have arrested two suspects from Pune in connection with an alleged online share market investment scam that caused a local resident to lose ₹8.22 lakh.

According to investigators, the accused allegedly operated a fake trading platform that displayed fabricated profits to convince the victim to invest more money. The fraud came to light when the victim attempted to withdraw funds and was locked out of the app.

Fraud Began With Investment Messages

Police said the victim was first contacted through unsolicited messages and online links promoting a high-return share market investment opportunity.

The fraudsters allegedly invited the victim to join a private investment group where fake stock updates, fabricated trading receipts and misleading profit claims were shared to create trust.

The platform was presented as a premium investment opportunity, making the victim believe that he was dealing with a professional trading network.

Fake Trading App Displayed Artificial Profits

After gaining confidence, the accused allegedly asked the victim to download a lookalike trading application.

The app reportedly displayed fake market charts, rising account balances and artificial daily gains to make the investment appear profitable.

Believing the displayed returns to be genuine, the victim transferred multiple payments into bank accounts provided by the fraudsters.

The total loss was estimated at ₹8.22 lakh.

Account Locked When Victim Tried to Withdraw Money

The scam was exposed when the victim attempted to withdraw his investment and profits from the trading platform.

Instead of processing the withdrawal, the app allegedly blocked his access. The administrators also stopped responding to messages and deactivated communication channels.

The victim then approached the police and filed a formal complaint.

Cyber Tracking Leads Police to Pune

After receiving the complaint, Kandivali Police began analysing digital communication records, payment trails, IP logs and banking details linked to the fraudulent platform.

Investigators traced the network to Pune and conducted a targeted operation, leading to the arrest of two suspects.

During the search, police reportedly seized multiple smartphones, SIM cards registered through proxy identities and debit cards linked to mule bank accounts.

Bank Accounts Frozen to Protect Remaining Funds

Police have registered a case under provisions relating to cheating by personation, identity fraud, criminal breach of trust and misuse of electronic communication systems.

Authorities have also initiated steps to freeze identified bank accounts connected to the scam to prevent further withdrawal of remaining funds.

Investigators are now examining whether the arrested suspects were part of a larger cyber fraud network targeting investors through fake trading apps and private messaging groups.

Investors Warned Against Unverified Trading Platforms

Police have advised citizens not to invest money through trading apps or investment groups shared via private messages, social media links or unknown contacts.

Experts warn that genuine SEBI-regulated brokers do not promise guaranteed high returns, demand urgent deposits through unofficial channels or block withdrawals after investment.

Before investing, users should verify the broker’s registration, official website, app authenticity, customer support details and payment account ownership.

Strong financial verification practices and auditing services in india can also help businesses and investors identify suspicious fund flows, fake ledgers and fraudulent investment structures before losses escalate.

Conclusion

The ₹8.22 lakh Kandivali trading app scam highlights how cybercriminals use fake dashboards, artificial profits and private investment groups to manipulate victims into repeated deposits.

The case serves as a warning that any platform promising unusually high returns with easy withdrawals should be treated with caution. Investors should rely only on verified and regulated trading platforms and report suspicious investment offers to the National Cyber Crime Helpline at 1930.

Shunyatax Global Insight

Investment frauds often succeed because they create the illusion of control. Fake dashboards, artificial profit statements and manipulated account balances make victims believe their money is growing, even when no genuine trading activity exists.

Shunyatax Global believes investors and businesses should treat every high-return digital investment offer with structured verification. Independent auditing services in india can help identify fake financial records, trace suspicious transactions, review platform credibility and strengthen safeguards against online investment fraud.