Mumbai: A 53-year-old consultant from Navi Mumbai was allegedly duped of over Rs 50 lakh in an online share investment fraud. According to the police, on August 22, the complainant received a message from a woman claiming to provide training and information related to share market investments.
On September 18, she sent web links asking him to fill out forms and download a trading app. Following her instructions, the complainant began investing through the bogus app. Initially, he invested Rs 1 lakh and saw a notional profit of Rs 10,000. The scammers later told him that investing Rs 50 lakh would yield substantial returns. Between September 19 and 29, he transferred Rs 50.17 lakh.
The app showed his earnings had grown to Rs 86 lakh. However, when he tried to withdraw his funds, the fraudsters demanded another Rs 50 lakh, claiming it was required to release his profits. Realising he had been cheated, the complainant approached the police. A case has been registered for cheating and cheating by personation by using a computer resource.
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