Retired professor loses ₹2 crore in fake investment scam via WhatsApp clone site

Summary

A retired professor from Andhra Pradesh lost nearly Rs 2 crore in a fake investment scam conducted over WhatsApp. The victim, Dr M. Batmanabane Mounissamy, was added to a WhatsApp group named ‘H-10 Nuvama Health Group’ that promised investment advice. Scammers impersonated a legitimate financial firm and directed him to a cloned website resembling Nuvama Funds. The professor initially invested Rs 10,000 and received a return of Rs 13,000, which increased his trust in the scam. Over the next five weeks, he reportedly invested a total of Rs 1.9 crore. When he attempted to withdraw funds, scammers demanded a processing fee, and after paying Rs 7.9 lakh, he was unable to retrieve any money. He filed a complaint on 18 June after realizing he had been defrauded.