In Navi Mumbai, a 51-year-old logistics professional from New Panvel lost ₹1.09 crore to cyber fraudsters who operated a fake stock investment scheme. The victim was lured into the scam through a WhatsApp group called 'IIFL Invesco VII 2026 10x Growth Strategy Y113', where the perpetrators posed as investment experts from a reputed financial institution. They shared stock recommendations and promised high returns, gaining the victim's trust over time. To enhance their credibility, they circulated a counterfeit SEBI registration certificate in the name of IIFL Capital. The victim was persuaded to invest through a fraudulent trading application named IFLVIP, which falsely displayed impressive returns and portfolio growth. Over a period of two months, he transferred a total of ₹1.09 crore to various bank accounts controlled by the scammers. The fraud was exposed when the victim attempted to withdraw his funds and realized he could not access his money, prompting him to report the incident to the Navi Mumbai Cyber Police.