A Wadala-based trader has alleged that she was cheated of nearly Rs 48 lakh after cyber fraudsters impersonating representatives of a reputed broking firm lured her into a fake “block trading” investment scheme using WhatsApp groups, forged SEBI documents and multiple bank accounts, police said.

According to the complaint, the woman, 52, came across an online advertisement related to share market investments on Facebook and was later added to a WhatsApp group projecting itself as a “market insights” forum linked to a well-known broking firm. Soon after, a woman claiming to be a company representative contacted her, promising high returns through “QIB (Qualified Institutional Buyer) block trading”.