Maha: Thane man loses over Rs 12.5 lakh in online fraud

A 23-year-old man from Maharashtras Thane city was allegedly cheated of over Rs 12.5 lakh on online trading applications, police said on Tuesday.The matter came to light when the victim, a resident of Davle Nagar, lodged a complaint in this regard at Vartak Nagar police station, an official said.

A 23-year-old man from Maharashtra's Thane city was allegedly cheated of over Rs 12.5 lakh on online trading applications, police said on Tuesday.

The matter came to light when the victim, a resident of Davle Nagar, lodged a complaint in this regard at Vartak Nagar police station, an official said. As per the complaint, the victim, who frequented several online trading portals, was wooed by schemes that promised good returns on investment, the official said. The victim invested Rs 12.53 lakh using different trading applications, and realised that he had been cheated when the amount got deducted from this account, but he did not receive any acknowledgment for the investment, he said. The cyber cell of the city police managed to retrieve a sum of Rs 5.24 lakh before it could be diverted, the official said, adding that the police are investigating to recover the rest of the money.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)