Five Arrested in Navi Mumbai for Rs 67.6 Lakh Trading Scam

A case has been registered against five individuals in Navi Mumbai for allegedly deceiving a man into investing Rs 67.6 lakh into share trading with promises of high returns. The police have taken action under various sections of the IPC and IT Act. Investigations are ongoing.

In Navi Mumbai, five individuals have been booked for allegedly cheating a man of Rs 67.6 lakh by enticing him into bogus share trading, according to local police reports on Sunday.

Senior inspector Gajanan Kadam stated that on Saturday, a case was registered under sections 406 (criminal breach of trust), 420 (cheating), and other pertinent provisions of the Indian Penal Code and Information Technology Act.

The complainant alleges that between April 14 and May 30, the accused persuaded him to invest in share trading, promising lucrative returns. The victim transferred Rs. 67.6 lakh through an online app but received no returns, subsequently realizing the scam and contacting the authorities. Investigations are underway with no arrests made yet.

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