UAE-Based ADNOC Chemist Loses ₹1.24 Crore in Fake Stock Trading Scam
A UAE-based senior chemist working for Abu Dhabi National Oil Company (ADNOC) allegedly lost ₹1.24 crore in an online stock trading scam involving fake WhatsApp investment groups and a fraudulent trading platform displaying ₹6.19 crore in fictitious profits, according to Indian media reports.
Mumbai's North Cyber Police have registered a case against unidentified suspects.
Fake WhatsApp Groups Promote Stock Investments
The alleged fraud began on August 20, 2026, when a woman identifying herself as Ananya Sharma contacted the victim through WhatsApp.
She invited him to an investment group called "F104 Antara Growth," reportedly containing over 96 members posing as investors and financial advisers.
The suspects claimed to represent Antara India Evergreen Fund, describing it as a SEBI-registered broker offering IPOs, rights issues and stock investments.
The victim was directed to a trading website, where he registered an account and submitted personal information.
₹1.24 Crore Deposited, ₹6.19 Crore in Fake Profits
Between September and October 2026, the victim transferred ₹1,24,90,000 to multiple bank accounts through RTGS and IMPS transactions.
The trading platform allegedly displayed fabricated investment returns, eventually showing profits of ₹6.19 crore.
However, when the victim requested a withdrawal, the operators demanded an additional 5% of the displayed profits as a withdrawal fee.
They reportedly refused to deduct the fee from his account balance and insisted on a separate payment.
Mumbai Cyber Police Investigate
After repeated withdrawal attempts failed, the victim informed his 19-year-old son, who reported the suspected fraud through India's cybercrime helpline 1930.
Police are investigating the unidentified suspects and tracing the bank accounts involved.
Investor Warning
Beware of WhatsApp investment groups, unverified trading platforms and upfront withdrawal fees. Check suspicious brokers and investment scams through BrokersView.
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