Retired Bank Official Duped of Rs 1.59 Crore in Share Trading Scam

A retired cooperative bank official from Thane was swindled out of Rs 1.59 crore after being promised high returns in share trading. The 58-year-old woman transferred the money between March and May, only to realize later that she had been cheated. A police case has been registered, and efforts are underway to apprehend the culprits.

A retired cooperative bank official from Thane was cheated out of Rs 1.59 crore after being promised good returns in share trading, a Thane police official disclosed on Thursday.

The 58-year-old woman transferred the amount between March and May into various bank accounts at the direction of the accused party, a police official from Naupada police station revealed.

The officer said, "After the accused, who claimed to be part of a share broking firm, stopped responding to her messages, the woman realized she had been duped. We registered a case on Tuesday under the Indian Penal Code and Information Technology Act for cheating and other related offences."

Efforts are currently underway to nab the accused, the officer added.

(With inputs from agencies.)