Mumbai BPCL Employee Loses Rs 687 Lakh in UK Based Online Investment Scam

A 45 year old employee of Bharat Petroleum Corporation Limited in Mumbai has fallen victim to a cyber fraud involving a fake UK based investment scheme. The total amount lost in the scam was Rs 687 lakh.

According to the complaint filed with the police Sachin Kulkarni who resides in the BPCL Colony on RC Marg in Chembur was contacted on May 20 by a man named Saad. The caller used a United Kingdom phone number and claimed to represent a company named AFMHNW reportedly located at Normandy Building on ML Dahanukar Road Khambala Hill Mumbai.

Saad convinced Kulkarni to invest in shares and initial public offerings promising high returns. To appear genuine he shared a link to a mobile application and a website where Kulkarni was instructed to register and review company details.

Trusting the offer Kulkarni made an initial investment of 5000 US dollars approximately Rs 417 lakh on May 24 using his HDFC Bank credit card. When he was allowed to withdraw a small portion of the investment he felt assured and went on to invest an additional 3000 US dollars around Rs 25 lakh on June 2.

Soon after the platform began asking for more money and blocked his attempts to withdraw funds. Realizing it was a scam Kulkarni reported the incident to the national cybercrime helpline 1930 and later filed a formal complaint at RCF Police Station.

The police have registered a case under the relevant sections of the Bharatiya Nyaya Sanhita and the Information Technology Act. The investigation into the matter is ongoing.