Mumbai Senior Citizen Loses ₹18.98 Lakh In Fake Old Coin Fraud Racket
· Free Press Journal
Mumbai: A 75-year-old woman from Chunabhatti has fallen victim to a cyber fraud in which scammers posing as employees of an “old coin company” duped her of Rs18.98 lakh by promising lucrative returns for antique coins.
According to the FIR, the complainant, Gauri Suhas Shambhu, resides in Chunabhatti with her husband, Suhas Shambhu. The couple possessed a collection of old Indian coins originally gathered by Suhas’s mother, Nalini Shambhu, who had a hobby of collecting rare currency. After her death in 2015, the coins remained with the family, who were aware that such collectibles could fetch a high price.
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In May 2025, Gauri came across a Facebook advertisement claiming that an old coin company was purchasing antique coins at high rates. Trusting the advertisement, she contacted the number provided. The caller identified himself as Anil Kumar, allegedly posing as employees of an old coin company.
After receiving photographs of the coins via WhatsApp, the accused assured Gauri that the collection could fetch between Rs50 lakh and Rs60 lakh. Gaining her confidence, he asked her to pay Rs5,000 as a registration fee, followed by multiple payments under the pretext of valuation charges and various taxes. Between May 2025 and January 2026, Gauri transferred a total of Rs18.98 lakh.
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The fraudsters later intensified the scam. In February and March 2026, the accused allegedly threatened Gauri over WhatsApp calls, claiming that failure to pay additional amounts would result in Income Tax officials visiting her residence and arresting her and her husband.
Realising she had been cheated, Gauri approached Chunabhatti police and filed a complaint against unidentified individuals using three mobile numbers, including persons identifying themselves as Anil Kumar and Sanjay Ji.
Police have registered a case under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act. Further investigation is underway.
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