3 persons, 2 firms booked for duping man of over Rs 44 lakh in online share trading

Police have registered a case against three persons and two firms for allegedly cheating a Navi Mumbai-based man of nearly Rs 45 lakh by luring him into making online share trading investments, an official said on Saturday.

The accused were identified as Aarav, Kunal, Bimla, the customer case executive of a securities firm and a website, he said.

In his complaint, the 49-year-old victim from Nerul in Navi Mumbai said the accused lured him into investing Rs 44.72 lakh between February 5 and March 3 this year, senior inspector Gajanan Kadam of the Cyber police station said.

When he requested returns on his investments, the accused gave evasive replies. As he realised that he has been deceived, the victim approached the police and lodged a complaint, based on which a case was registered under Indian Penal Code (IPC) sections 419 (cheating by personation), 420 (cheating) and 34 (common intention)and the Information Technology (IT) Act, he said.