Maharashtra Trader Duped of Rs 1.9 Crore in Share Trading Scam

A 35-year-old cloth trader in Maharashtra's Thane district was allegedly scammed out of Rs 1.9 crore by fraudsters who enticed him into share trading. An FIR has been registered by Khadakpada police following a complaint by the victim. The accused added him to a WhatsApp group for training and forwarded investment links.

A 35-year-old cloth trader from Maharashtra's Thane district was reportedly swindled out of Rs 1.9 crore by con artists who attracted him to share trading, according to police statements on Monday.

The Khadakpada police registered a first information report under relevant sections of the Information Technology Act after the victim lodged a complaint on Saturday.

The complaint alleges that the fraudsters contacted the trader, added him to a WhatsApp group to train him in share trading, and shared investment links. Between May and July, he invested Rs 1.9 crore, but when he attempted to retrieve his returns, the accused were unresponsive.