Mumbai Investor Loses Rs 9.94 cr in Fake Anand Rathi Trading App

In a major cyber fraud case, a 65-year-old retired lawyer and former Larsen & Toubro official from Mumbai was tricked into losing nearly ₹9.94 crore. The scammers posed as officials of Anand Rathi Shares & Stock Brokers Ltd and convinced the victim to invest via a fake trading app called “AR Trade Mobi.” The fraud began when the victim received a WhatsApp message from a woman claiming to be an admin of Anand Rathi, inviting him to invest through the app.

The victim was added to a WhatsApp group named “Anand Rathi VIP 12,” where fraudsters regularly shared false investment tips and IPO updates. Encouraged by apparent profits shown on the app, he transferred large sums to multiple bank accounts for supposed IPO and mutual fund investments between June and November 2025.

When the victim tried to withdraw his returns, transactions failed, and the fraudsters demanded more money in the name of taxes and commissions. Doubting the scam, the victim visited Anand Rathi’s official office and learned that the app and the people involved were fake.

Following his complaint, the Cyber Police have registered an FIR against ten unknown individuals and are investigating the widespread scam network. This case highlights the rising danger of high-value cyber frauds by impersonating reputed financial institutions