FPJ Cyber Secure: Navi Mumbai Man Loses ₹1.06 Crore In Share Trading Fraud

FPJ Cyber Secure: Navi Mumbai Man Loses ₹1.06 Crore In Share Trading Fraud

The accused contacted the man, who has an engineering unit in Taloja area of Navi Mumbai, and lured him into share trading while assuring good returns, senior police inspector Gajanan Kadam said.

PTIUpdated: Thursday, March 07, 2024, 12:07 PM IST
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FPJ Cyber Secure: Navi Mumbai Man Loses ₹1.06 Crore In Share Trading Fraud | FPJ

A 45-year-old man from Navi Mumbai in Maharashtra allegedly lost Rs 1.06 crore after being lured into share trading for good returns, police said on Thursday. A case was registered on Wednesday against four persons in this connection, they said.

Details of incident

The accused contacted the man, who has an engineering unit in Taloja area of Navi Mumbai, and lured him into share trading while assuring good returns, senior police inspector Gajanan Kadam said.

Over the last two months, the man transferred Rs 1,06,28,000 in different bank accounts through online mode. But when he did not get the returns and his invested amount, he approached the police, the official said.

Based on his complaint, a case was registered against four persons under relevant provisions of the Indian Penal Code and the Information Technology Act, the police added.

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