Four booked for cheating Navi Mumbai man of Rs 29 lakh in share trading fraud

The Navi Mumbai police have registered a case against four persons for allegedly cheating a financial analyst of Rs 29 lakh by luring him to take up share trading, an official said on Tuesday.

Based on a complaint, a case was registered at the cyber police station under sections 420 (cheating) and 406 (criminal breach of trust) of the Indian Penal Code and the Information Technology Act, he said.

''The complainant has alleged that the accused approached him through a website and lured him to invest in share trading. He made a total payment of Rs 29 lakh between January 18 and February 29,'' senior inspector Gajanan Kadam said.

When the victim sought the promised returns, the accused did not respond to his calls, he said.

''We are gathering evidence, and no arrests have been made so far,'' the official said.

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