**Corporate Lawyer from Indore Duped of Rs 9.73 Lakh by Cyber Fraudsters Posing as Stock Market Experts**
Mumbai: A 26-year-old corporate lawyer from Indore, Madhya Pradesh, has fallen victim to a cyber fraud involving nearly Rs 9.73 lakh. The scammers, posing as stock market experts, operated through fake trading apps and WhatsApp groups to lure the victim with promises of high returns.
**Fraudsters Use Fake Trading App ‘IMPV MIN’**
The victim was persuaded to download a third-party app called IMPV MIN to make stock market investments. Initially, he saw modest profits which built his confidence. However, this was all part of the scam.
**Case Registered at Dadar Police Station**
The Dadar Police have registered a First Information Report (FIR) against unidentified individuals under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology (IT) Act.
**Victim Identified as Advocate Priyam Dilip Goyal**
According to the FIR, the victim, Advocate Priyam Dilip Goyal, resides at Sahakar Nivas, Agashe Path, Dadar (West), Mumbai, and works at a law firm in Parel. Initially, Goyal made small profits using Zerodha’s trading platform, which encouraged him to invest further.
**WhatsApp Group Used to Gain Trust**
In May 2025, Goyal was added to a WhatsApp group called “T (VIP1) Internal Trading Hub,” administered by a woman named Shailaja Paik. She posed as a trading advisor and shared stock tips that initially yielded profits, gaining Goyal’s trust.
**Fake Profits and Increased Investments**
Goyal was convinced to trade daily using the IMPV MIN app. He even made two successful withdrawals, boosting his confidence. By May 28, he had invested Rs 9.73 lakh, and the app falsely displayed profits of Rs 20 lakh.
Following this, Goyal was encouraged to download another app to access exclusive shares, which “only Shailaja Paik could buy.” She urged him to invest Rs 36 lakh to double his profits.
**Victim Declared a ‘Defaulter’ and Asked for Penalty**
When Goyal expressed his inability to invest more due to lack of funds, he was labeled a “defaulter” and asked to pay a penalty of Rs 5.5 lakh. He requested that the penalty be deducted from the Rs 20 lakh profit shown on the app, asking for the balance to be refunded. However, no money was returned, and communication ceased.
**Police Investigation Underway**
Realizing the scam, Goyal filed a formal complaint at Dadar Police Station. Authorities have launched an investigation and registered a case against unidentified individuals under the BNS and IT Act.
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https://www.freepressjournal.in/mumbai/mumbai-cyber-fraud-26-year-old-corporate-lawyer-duped-of-973-lakh-through-fake-stock-trading-apps-fir-registered-at-dadar-police-station
