Navi Mumbai: Man Falls Victim to Share Trading Scam, Loses Rs 1.36 Crore

Navi Mumbai fell victim to cyber criminals, losing a staggering Rs 1.36 crore in a fraudulent investment scheme involving shares. The 48-year-old man was deceived by fraudulent individuals who exploited him through deceptive means.

Upon learning of the incident, the Mumbai Police Cyber Cell was promptly notified, and a formal complaint was lodged under relevant sections of the Indian Penal Code and Information Technology Act, including Section 420 for cheating. The authorities have initiated an investigation and are actively pursuing the perpetrators. The complaint targets two individuals, with the organization "Angel One" also implicated in the case.

Although the investigation is underway, no arrests have been made thus far, as stated by a senior police official. The fraudulent transactions occurred between January 20 and March 13, during which the victim was manipulated by the culprits via WhatsApp messages. They enticed him with promises of lucrative returns through share trading, exploiting his desire for quick profits.

The victim complied with their instructions, transferring the significant sum to various bank accounts under the belief that it would be invested in the stock market, yielding profits to be shared with him. However, after three months had passed without any returns, he realized he had been deceived.