<p>Bengaluru: A 51-year-old businessman from Hebbal lost Rs 3.8 crore after cybercriminals, posing as a financial services firm, lured him into fake trading.</p>.<p>Police said the suspects impersonated Motilal Oswal and convinced the victim, Ramesh R (name changed), that he was dealing with a genuine company.</p>.<p>Ramesh came across an advertisement on Instagram on July 23, 2025, promoting block trading and investments. He clicked the link and was added to a WhatsApp group named “J-3 MOTILAL OSWAL WEALTH BUILDERS”.</p>.Bengaluru: Retired banker loses Rs 2.91 crore in impersonation scam.<p>He was later contacted by Ananya Mehta and Rajath Raj, suspected to be fake identities. They began guiding him on investments and sharing trading tips through the group.</p>.<p>Initially sceptical, Ramesh was convinced after seeing screenshots showing profits earned by others in the group. Investigators said these were proxies used by the cybercriminals to lure him further.</p>.<p>He was then asked to register on fake websites, share KYC details, and was given forged SEBI certificates to establish authenticity, police said.</p>.<p>Between July 23, 2025, and September 15, 2025, he transferred Rs 3.80 crore to multiple bank accounts.</p>.<p>When he attempted to withdraw the money, the request was denied. He was asked to pay a 30% service charge and other processing fees.</p>.<p>"The victim waited, thinking he would get his money back before approaching the police on April 11. A case has been registered, and bank details have been sought to trace the money trail. Due to the massive delay in reporting the offence, recovery becomes challenging in cases like these,” a police officer said, adding that a probe is underway.</p>
<p>Bengaluru: A 51-year-old businessman from Hebbal lost Rs 3.8 crore after cybercriminals, posing as a financial services firm, lured him into fake trading.</p>.<p>Police said the suspects impersonated Motilal Oswal and convinced the victim, Ramesh R (name changed), that he was dealing with a genuine company.</p>.<p>Ramesh came across an advertisement on Instagram on July 23, 2025, promoting block trading and investments. He clicked the link and was added to a WhatsApp group named “J-3 MOTILAL OSWAL WEALTH BUILDERS”.</p>.Bengaluru: Retired banker loses Rs 2.91 crore in impersonation scam.<p>He was later contacted by Ananya Mehta and Rajath Raj, suspected to be fake identities. They began guiding him on investments and sharing trading tips through the group.</p>.<p>Initially sceptical, Ramesh was convinced after seeing screenshots showing profits earned by others in the group. Investigators said these were proxies used by the cybercriminals to lure him further.</p>.<p>He was then asked to register on fake websites, share KYC details, and was given forged SEBI certificates to establish authenticity, police said.</p>.<p>Between July 23, 2025, and September 15, 2025, he transferred Rs 3.80 crore to multiple bank accounts.</p>.<p>When he attempted to withdraw the money, the request was denied. He was asked to pay a 30% service charge and other processing fees.</p>.<p>"The victim waited, thinking he would get his money back before approaching the police on April 11. A case has been registered, and bank details have been sought to trace the money trail. Due to the massive delay in reporting the offence, recovery becomes challenging in cases like these,” a police officer said, adding that a probe is underway.</p>