Builder Duped of Rs 13.5 Crore in Cyber Fraud

A Navi Mumbai builder was allegedly cheated out of Rs 13.5 crore by cyber fraudsters who enticed him into share trading. He invested over eight months, but when he sought returns, the accused did not respond. The police have registered a case under various sections of the Bharatiya Nyay Sanhita and the Information Technology Act.

A Navi Mumbai-based builder has reportedly fallen victim to a cyber fraud, losing more than Rs 13.5 crore to scammers who enticed him into share trading, authorities revealed on Tuesday.

According to senior inspector Gajanan Kadam of the Cyber police station, a formal complaint was filed leading to the registration of a case under sections 319(2) and 318(4) of the Bharatiya Nyay Sanhita, along with relevant clauses of the Information Technology Act.

The builder alleged that the fraudsters reached out to him through various channels and convinced him to invest money in share trading by transferring funds to different bank accounts over eight months. When he asked for the returns and his original investment, he received no response, prompting the police action.