Mira-Bhayandar Cyber Fraud: 44-Year-Old Director At Global Firm Duped Of ₹40.70 Lakh In International Stock Market Scam

Mira-Bhayandar: A 44-year-old man from Bhayandar who works as a director in a global software cum digital marketing company was lured into investing in the international stock market and cheated of more than 40.70 lakh.

In his statement to the police the complainant said that he came into contact with a woman who identified herself as a doctor on messaging app-Telegram in June this year. The woman induced him to invest in the international stock market promising lucrative profits.

The complainant made an initial investment of 250 dollars (around 20,000 INR) which fetched him a profit of Rs. 4,500 in a few days. However, the ploy was apparently aimed at gaining the trust of the complainant who went on to invest Rs. 40.70 lakh in less than 45 days between 8 to 26 July, 2024.

Although his account on the apparently fake investment website displayed the value of his current holdings at 1,33,248 dollars (around Rs. 1.11 crore INR), he was unable to withdraw his profit. When contacted the woman told her that the withdrawal was possible only if he pays Rs.20 lakh towards income tax.

Despite his pleas that he would directly pay the tax amount in the government account, the woman remained adamant on her demand. Realising he was cheated, the man registered a complaint at the Navghar police station in Bhayandar, following which an offence under the relevant sections of the Bharatiya Nyaya Sanhita (BNS) of 2023 was registered against the fraudster on Thursday. Efforts were on to identify the bank accounts holders and trace the money trail.