Mumbai: A 61-year-old retired businessman from Bandra became the latest victim of cyber fraud. The accused, impersonating share trading experts, lured him and defrauded him of Rs 2.32 crore through a fake stock trading schemethat falsely operated under the name of a trading and investment platform owned by a well-known financial services brand. The scam is orchestrated through WhatsApp groups, a fraudulent mobile app, and false promises of high returns in IPO investments, police said.The complainant, a former TCS employee, stated in his FIR that the fraud began in Nov 2024 when he responded to a stock trading ad on a social media platform.He was added to multiple WhatsApp groups wherein members sent regular stock market tips, which initially seemed reliable and encouraged him to invest. He made repeated payments totalling Rs 2.32 crore to multiple bank accounts. The app falsely displayed Rs 3.17 crore as his ‘profit’, but he was unable to withdraw the funds. — S Ahmed Ali