Cyber Fraud with Andhra Professor! Loses Nearly Rs 2 Crore in Fake Investment Scam Over WhatsApp

A retired professor from Andhra Pradesh ended up losing nearly Rs 2 crore after joining a fake investment WhatsApp group. The scam was carried out through a WhatsApp group, where he was lured with promises of high investment returns.

Renowned Professor Targeted

According to a media report, the victim, Dr M. Batmainabane Munissamy — a former director and professor at JIPMER in Puducherry — filed a police complaint on June 18. He said he had been added to a WhatsApp group named ‘H-10 Nuvama Health Group’. He claimed to have been added to the "H-10 Nuvama Health Group" WhatsApp group. The group said it provided expert advice and insider investing suggestions. The professor believed the group was authentic since he had previously invested in "Nuvama Funds" (formerly Edelweiss).

Woman Impersonating as “Kangana” Traps Him

Soon after, a woman approached the victim through private chat under the name "Kangana" and claimed to be a Nuvama representative. She asked him to register on a website that looked very similar to the real Nuvama Funds portal but was entirely fake.

On 19 April, the professor made an initial investment of Rs 10,000, and in return, it was showing Rs 13,000. This small profit strengthened his trust in the platform.

Rs 2 Crore Lost in Scam, Promised Rs 35 Crore Return

Over the next five weeks, the professor invested approximately ₹1.9 crore in multiple transactions, believing he was buying high-performing stocks. By the end of May, the fake website showed a balance of Rs 35 crore in his account. When he attempted to withdraw Rs 5 crore, he was asked to pay a Rs 32 lakh processing fee — later lowered to 25 per cent of the amount. Hoping to get at least some of the money back, he transferred another ₹7.9 lakh. But he never received any funds.

Realisation and Police Complaint

When he followed up again, he was connected to another person posing as a senior officer named “Ashish Kehair”. The fraud continued until the professor realised he had been scammed and finally approached the police.

Stay Alert

This is not the first case. Over the past few years, thousands of people have fallen prey to similar fake investment traps and lost crores of rupees. Experts advise not to fall for social media ads or WhatsApp groups that promise unusually high returns. Real financial institutions don't use WhatsApp to offer investment advice. Always be cautious of messages from unknown numbers or groups.