Businessman Duped of Rs 50 Lakh in Share Trading Scam

Navi Mumbai Police are investigating a case where a Panvel businessman lost Rs 50 lakh in a share trading fraud. Three individuals, including a woman, lured the victim with promises of high returns, showing fake certificates. An FIR has been filed under relevant laws, with two other victims reported.

Navi Mumbai Police have launched an investigation following allegations that a businessman from Panvel was duped of Rs 50 lakh in a share trading fraud. The scam, perpetrated by three individuals, including a woman, involved promises of lucrative returns.

Over a span of 50 days, the victim transferred Rs 50.25 lakh, lured by the suspects who presented a fake certificate purportedly issued by the market regulator for share trading. An official confirmed these details on Wednesday.

Upon failing to receive any returns, the businessman approached the police, leading to an FIR against Pooja Sharma, Arun Kumar Singh, and another individual under applicable sections of the Bharatiya Nyaya Sanhita and the Information Technology Act. Further investigations revealed the same suspects had similarly duped two other individuals.