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.