Navi Mumbai man duped of Rs 1.36 cr in sharing trading fraud

A 48-year-old man from Navi Mumbai allegedly lost Rs 1.36 crore to cyber fraudsters who lured him to invest in share trading, police said on Sunday. Based on a complaint, a case under section 420 cheating and other relevant provisions of the Indian Penal Code and Information Technology Act has been registered at the cyber police station against two persons and an organisation named Angel One, an official said.

A 48-year-old man from Navi Mumbai allegedly lost Rs 1.36 crore to cyber fraudsters who lured him to invest in share trading, police said on Sunday. Based on a complaint, a case under section 420 (cheating) and other relevant provisions of the Indian Penal Code and Information Technology Act has been registered at the cyber police station against two persons and an organisation named Angel One, an official said. A probe has been initiated, but no arrests have been made so far, senior inspector Gajanan Kadam said. According to the police, the fraud occurred between January 20 and March 13. The accused contacted the complainant, a resident of Jui Nagar, on WhatsApp and provided him with information on share trading and assured him of substantial returns on his investment, he said. The complainant was asked to transfer Rs 1.36 crore into different bank accounts for investing in the stock market, the official said. However, when the complainant did not receive any money from the accused, he realised that he had been cheated and approached the police, he said.

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