‘Nalasopara Call‑Centre Chaos’: 13 Arrested in Midnight Raid, ₹41 Cr Retail Money Siphoned in Bank Nifty Trap
How a clandestine boiler room in a rented Thane plaza posed as SEBI-registered analysts, flaunted rented sports cars, and coerced retail traders into emergency loans.
Thane Cyber Crime Cell operatives escorting masterminds following a midnight raid on the fake SEBI advisory boiler room.
Core Investigation Takeaways & Order Highlights
In a dramatic midnight raid that shattered the quiet of a non-descript commercial plaza in Nalasopara East, the Thane Cyber Crime Cell, accompanied by regulatory liaison officers, dismantled a multi-crore boiler room operating under the brazen guise of an authorized SEBI-registered stock advisory franchise.
Posing as certified research analysts and high-frequency algorithmic portfolio managers, 13 operatives were arrested while actively cold-calling retail traders across Maharashtra, Gujarat, and Rajasthan. The syndicate lured working professionals, retirees, and first-time options traders with astronomical promises of 'sure-shot 300% to 1,000% monthly returns' on Bank Nifty zero-to-hero expiry options.
The hook began on Telegram and WhatsApp groups, where rented luxury cars, five-star hotel retreats, and doctored P&L screenshots showing daily multi-lakh intraday profits were aggressively circulated. Victims were initially asked to transfer 'starter VIP subscription fees' ranging from ₹25,000 to ₹1.5 Lakh into dummy merchant UPI accounts.
Inside the raided Nalasopara call center floor: 42 high-end workstations, 88 GSM SIM bank modules, and forged SEBI certificates seized.
However, when the syndicate's reckless out-of-the-money directional options inevitably expired worthless at 3:30 PM, the telecallers pivoted to psychological coercion. Panicked victims were informed that an 'institutional recovery algorithm' could recoup their entire capital—provided they immediately deposited another ₹3 Lakh to ₹5 Lakh, often pressuring victims to break fixed deposits, borrow from digital lending apps, or pledge family jewelry.
Police forensic examiners seized 42 networked computers, 88 unauthorized GSM SIM gateway modules used to mask caller IDs, 3 luxury vehicles, and ledger books revealing over ₹41 Crore in retail investor transactions routed through shell conduits in Surat and Kolkata. None of the arrested individuals possessed a SEBI Research Analyst (RA) or Investment Advisor (RIA) registration number.
The accused have been remanded to police custody under IPC Sections 419 (cheating by personation), 420 (cheating), 120B (criminal conspiracy), Section 66D of the Information Technology Act, alongside formal statutory proceedings under Sections 11 and 11B of the SEBI Act, 1992. Retail investors are reminded that legitimate SEBI intermediaries never guarantee returns or conduct business via unverified personal UPI accounts.
Official Thane Police FIR and SEBI Section 11B enforcement documents directing asset attachment across dummy bank accounts.
How Affected Students & Victims Can File for Full Fee Refund
Under the SEBI recovery order, all fees paid for unregistered mentorship, live rooms, or high-tier programs are eligible for restitution claim. Follow these verified steps:
- 1Step 1: Immediately file a complaint on the National Cyber Crime Reporting Portal (cybercrime.gov.in) or call helpline 1930 within the 'golden hour' to request urgent lien freezing on suspect bank accounts.
- 2Step 2: Lodge a formal grievance on the official SEBI SCORES 2.0 portal (scores.sebi.gov.in) under the 'Unregistered Investment Advisory / Research Analyst' category referencing FIR No. CR-1042/2026.
- 3Step 3: Submit bank transaction statements, UPI UTR numbers, WhatsApp/Telegram audio notes, and caller phone numbers to your local Cyber Crime Police Station.
- 4Step 4: Contact your bank branch manager immediately to submit a formal dispute letter alleging merchant misrepresentation and request chargeback processing.