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Thane: 36-Year-Old Cheated of Rs 62 Lakh by Acquaintance in Investment Fraud

By Lokmat Times Desk | Updated: March 9, 2026 13:15 IST

A cyber crime reported in Thane, where a 36-year-old man allegedly got cheated of for Rs. 62 lakhs by an ...

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A cyber crime reported in Thane, where a 36-year-old man allegedly got cheated of for Rs. 62 lakhs by an acquaintance who lured him to invest in the share market, promising him high returns. Based on the complaint, the kapurbawdi police on Saturday registered a FIR.

Sachin Bhagwat (47), under sections 318(4) (cheating) and 316(2) (criminal breach of trust) of the Bharatiya Nyaya Sanhita (BNS), an official said. The complainant, an employee of an electric company, has alleged that Bhagwat befriended him, gradually gained his trust and discussed investment opportunities in the stock market, he said.

A case of cheating to the tune of nearly ₹14.72 lakh has come to light after four youths were allegedly duped on the pretext of securing well-paid jobs in Canada. The accused, linked to an overseas placement company, allegedly collected lakhs of rupees from the victims by promising them jobs as pharmacist assistants in Canada.

According to the police, one of the victims, Mohammed Sabir Hussain (37), was even sent to Canada on a visitor visa with assurances that it would later be converted into a work visa. However, after reaching Canada, he found that neither any agent was present nor was there any job arrangement. After wandering for 13 days and spending money from his own pocket, Hussain returned to India. He later lodged a complaint at the Bangur Nagar Police Station in Mumbai.

Tags: ThaneFraud newscyber fraudInvestment
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