Mumbai: A 51-year-old engineering consultant working for a multinational company has fallen victim to a massive cyber fraud, losing nearly Rs 7 crore over three years in a commodity trading scam. The Powai resident was duped after coming across a popup advertisement promoting commodity trading on August 1, 2021. Lured by promises of high returns, he started trading on the platform, only to realise later that he had been scammed.
Money Transferred Through Multiple Transactions In 3 Years
The fraudsters convinced him to transfer money in cryptocurrency. To comply with their demands, he opened accounts on two well-known crypto exchanges and made multiple transactions between August 2021 and December 2024. When he failed to withdraw his money and sensed foul play, he approached the cyber police on January 30 and an FIR was registered on February 27 at the west region cyber police station in BKC.
Details On The Scam
The scam began when the complainant spotted an online popup for Wallstreets.com while working from home. Curious about the platform, he entered his personal details, including his email ID and passport information.
Soon after, a person named Leo, posing as a representative of the website, contacted him via WhatsApp and convinced him to invest USD 1,000, which he paid through a payment gateway. He began trading, and his account balance was displayed in US dollars. Another fraudster, Aryan Reddy, then guided him on how to use the platform, according to a Times of India report.
Things took a turn when the complainant attempted to withdraw funds but was unable to do so. On February 23, 2022, he received an email from Leo Maxwell, who claimed that he had made a profit of USD 55,236 but needed to pay a tax of USD 14,000 in cryptocurrency to access his earnings. After complying with this demand, he received only USD 2,000 in his crypto wallet.
USD 1,00,000 Asked To Offer More Help
Later, another individual named Krish contacted him, claiming that Maxwell had fraudulently transferred his money. Krish offered to help but insisted that he first pay USD 1,00,000. After negotiations, the amount was reduced to USD 60,000, which the complainant transferred, believing he would finally access his funds.
However, a new person named Gilbert, allegedly Krish’s superior, contacted him and demanded additional tax payments. Over three years, the complainant transferred a total of Rs 6.8 crore to different crypto wallets provided by the fraudsters.
The final shock came when he called Gilbert’s number and a woman identifying herself as Gilbert’s wife informed him that Gilbert had died. Realising he had been deceived, the complainant finally sought police help. The investigation is ongoing.
