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A 52-year-old businessman from Mumbai has fallen victim to a cyber- fraud amounting to over ₹53 lakh after being lured through a dating application. The scam allegedly involved a woman who befriended him online under the pretext of marriage and later convinced him to invest in a fraudulent gold trading scheme by promising high returns.
Online Friendship Turns into Emotional Manipulation
According to police officials, the victim runs a logistics and marketing business and had created a profile on a dating app with the intention of finding a life partner. During this time, he came in contact with a woman who introduced herself as “Priyanka Gupta,” claiming to be a divorced resident of Juhu and a single mother. Investigators said the woman gradually gained the businessman’s trust through regular conversations and emotional bonding, projecting herself as serious about marriage and long-term commitment.
After establishing a close rapport, the woman allegedly began discussing financial matters and spoke about lucrative investment opportunities, positioning herself as knowledgeable and trustworthy. Police said this emotional manipulation played a key role in convincing the victim to part with large sums of money.
Fake Gold Trading Platform and Blocked Withdrawals
On October 13, the accused allegedly introduced the businessman to what she claimed was a gold trading investment platform operated by a firm named Market Access Company. She assured him that the platform offered quick and high returns. Initially hesitant, the victim agreed to invest after repeated persuasion and was guided through setting up an online trading account.
Over the next few days, the businessman transferred money in multiple instalments, eventually investing ₹53.30 lakh. The platform later displayed that his investment had grown to approximately ₹1.08 crore. However, when he attempted to withdraw the funds, he was informed by supposed company representatives that a 30 per cent tax and processing fee had to be paid in advance.
When the victim refused to deposit additional money and demanded the return of his original investment, the accused allegedly began delaying responses and eventually stopped communicating altogether.
Police Investigation and Advisory to Public
Realising he had been cheated, the businessman approached the cyber police, who registered a case under relevant sections of the Information Technology Act and cheating provisions. A police official said that two unidentified individuals are being investigated and that bank transactions, mobile numbers and digital footprints are being closely analysed. Authorities are also examining the trading platform involved, which is suspected to be fake and hosted on overseas servers.
Police officials said the case highlights a growing pattern of cybercrime where romance scams are combined with fake investment schemes. In such cases, victims are emotionally manipulated before being financially exploited. Police have advised citizens to remain cautious while interacting with strangers online, avoid investing money based on personal relationships, verify trading platforms independently and report any suspicious activity at the earliest.
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