Maharashtra Man Duped of Rs 94 Lakh in Trading Scam

A 48-year-old man from Maharashtra's Thane district lost Rs 94 lakh in a share trading scam. He was tricked into investing through a WhatsApp group posing as market experts. Police are investigating, gathering evidence, and seeking to apprehend those responsible.

A 48-year-old man from Maharashtra’s Thane district has fallen prey to a share trading scam, resulting in a significant financial loss of nearly Rs 94 lakh, officials confirmed on Wednesday.

The incident occurred between April 9 and May 21 when the man, a resident of Kalyan, joined a WhatsApp group named 'The Value Team A 13'. The group featured members who posed as stock market experts, offering investment tips and links to trading platforms.

Despite investing a substantial amount of Rs 93.6 lakh, the man received no returns. Realizing he had been duped, he lodged a police complaint. “We have launched an investigation,” stated the station house officer at Khadakpada police station. “Efforts are underway to gather evidence and locate the accused,” he added.