Multiple Victims Cheated in Stock Investment Scams

Three cases of fraud involving over Rs 107 lakh were reported in Thane after individuals were promised high returns on stock investments by unidentified con artists. The FIRs, registered on September 7, cite violations under the Information Technology Act. No arrests have been made yet.

Three serious fraud cases have come to light in Thane, where victims were promised high returns on stock investments and subsequently cheated out of over Rs 107 lakh, a police official said on Monday.

In the first case, a 53-year-old woman lost Rs 62.21 lakh between July 7 and August 31 after being lured into an online trading platform by an unknown accused, according to Manpada police.

In a similar fraud, reported at Vishnunagar police station, a man was swindled out of Rs 14.30 lakh. Additionally, Hill Line police reported that a family was defrauded of Rs 31.30 lakh after joining a company promising ’lifetime profits.’ All FIRs were registered on September 7 under the Information Technology Act and related laws, but no arrests have been made.