Online Trading Scam in Mumbai: Fraudsters Dupe Elderly Cancer Patient of INR 82 Lakh via Fake 'Government-Endorsed Finadexa’ Website in Chembur
In a shocking incident, an 83-year-old man battling cancer was duped of INR 82 lakh through a fraudulent online trading platform named "Finadexa". Pallavoor Palayil Gopidas, a retired professional from Chembur, Mumbai, was lured into the scam by a caller claiming to represent a government-endorsed investment platform.
Mumbai, October 21: In a shocking incident, an 83-year-old man battling cancer was duped of INR 82 lakh through a fraudulent online trading platform named "Finadexa". Pallavoor Palayil Gopidas, a retired professional from Chembur, Mumbai, was lured into the scam by a caller claiming to represent a "government-endorsed investment platform". The fraudsters even shared a video allegedly featuring Finance Minister Nirmala Sitharaman to convince him of the platform’s authenticity. Over several weeks, Gopidas transferred large sums from his bank account, trusting the fake profits shown on the website.
The case came to light when Gopidas’s son, visiting from the UK, noticed irregularities in his father’s bank transactions and attempted to withdraw the funds from the platform, only to find the website unresponsive. As reported by the Free Press Journal, it became evident that the family had fallen victim to a meticulously planned scam, with Gopidas having transferred money to multiple accounts under the direction of the fraudsters. The scam had involved continuous communication via WhatsApp and email with IDs such as support@finadexa.com and arjun.v@finadexa.com, further convincing him of the platform’s legitimacy. Online Trading Scam in Thane: Man Loses Over INR 42 Lakh in Stock Trading Fraud in Badlapur, Case Registered.
Following the death of Pallavoor Palayil Gopidas on October 8, 2025, his widow, Sathi Gopidas, filed a formal complaint with the East Region Cyber Police after first reporting the matter to the national cyber helpline. The complaint detailed how the fraudsters had manipulated her late husband using fake government endorsements and misleading financial information. The platform’s website, www.finadexa.com, displayed fabricated profits over several weeks, which strengthened Gopidas’s trust in the scam. What Is an Online Share Trading Scam? As Mumbai Man Loses INR 3.63 Crore in 15-Day Fraud, Know How To Protect Yourself.
As reported by the Free Press Journal, the East Region Cyber Police have registered a case against four unidentified individuals, including the caller Arjun Vaidya and the holders of the website and email accounts, under relevant sections of the Indian Penal Code and the Information Technology Act. Authorities are now tracing the money trail and digital communications to identify the suspects and dismantle the syndicate behind Finadexa.
(The above story first appeared on LatestLY on Oct 21, 2025 10:48 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).