stock market scam
72-Year-Old Mumbai Man Loses Rs 35 Crore in Elaborate Trading Fraud Spanning Four Years
Nov 27, 2025 08:00 pm CST
A 72-year-old Mumbai resident has fallen victim to an elaborate trading scam, losing Rs 35 crore through unauthorized transactions conducted by Globe Capital Market Limited over four years. The fraud involved manipulation of trading accounts, false profit statements, and unauthorized circular trades, leading to massive financial losses that went undetected until July 2024. The case has been transferred to Mumbai Police's Economic Offences Wing for investigation.
Mumbai Police Bust Massive Deepfake Investment Scam with China Connections: How Criminals Used Fake Videos of Market Experts to Steal Crores
Oct 19, 2025 01:12 am CST
Mumbai Police have dismantled a sophisticated cybercrime operation that used deepfake videos of prominent market analysts to defraud investors. The scam, linked to Chinese cybercriminals, involved a digital marketing company illegally selling Facebook Ad IDs, resulting in victims losing crores through fake investment schemes on WhatsApp and Telegram groups. Four individuals have been arrested in connection with the fraud that came to light after a SEBI-registered analyst reported counterfeit videos of himself circulating online.