Hello Mumbai City Desk
Mumbai | February 6, 2026
In a major breakthrough against cyber-enabled financial crimes, Mumbai Police”s ‘the South Region Cyber Cell has busted a large-scale share market investment fraud worth over ₹42 crore, in this Fraud Connection Police arrested seven persons from different states across India..
According to police officials, the accused allegedly lured investors through fake share market trading schemes, promising unusually high returns. Victims were persuaded to download a mobile application named “Warburg Pincin”, through which they were induced to invest substantial amounts. The fraud occurred between February 29, 2024 and January 10, 2025, during which investors were systematically deceived.
Investigations revealed that a single complainant alone was duped of ₹42.59 lakh. Further forensic analysis and money trail verification exposed that the gang collectively siphoned off ₹42 crore from multiple victims across various states.
Money Trail and Arrests
Following the registration of the case, cyber police set up a team of officers and conducted an extensive financial investigation, tracing multiple bank accounts used to divert and launder funds. Authorities discovered suspicious transactions amounting to ₹2.06 crore frozen across several accounts, while another ₹13.86 crore was found to have been circulated through multiple banking channels.
Based on technical evidence and financial trails, police arrested seven accused, hailing from Maharashtra, Uttar Pradesh, Odisha, Bihar, and Gujarat. The accused include individuals allegedly involved in account management, fund transfers, and digital operations of the fraudulent network.
Police stated that the accused were using fake digital identities, social media platforms, and messaging apps to target unsuspecting investors nationwide.
Further investigation is underway to identify additional victims and determine whether the racket has international links.
Police Advisory to Citizens.All arrested accused have been sent to Police Custody by Metropolitan Court for further investigation.
An appeal:
Mumbai Police have issued a public advisory urging citizens to remain vigilant:
Do not trust share market tips or investment offers received via social media or messaging apps.
Avoid downloading unknown trading applications.
Do not add strangers to WhatsApp or Telegram investment groups.
Verify brokers and platforms with SEBI-registered entities only.
Immediately report suspicious activity to cyber crime authorities.
Police have reiterated that cyber criminals are increasingly using sophisticated digital methods to exploit investors, and public awareness remains the strongest defense against such frauds.
