Cyber Fraudsters Dupe Thane Man in Share Trading Scam

A 66-year-old man from Maharashtra's Thane district was cheated out of over Rs 47 lakh by cyber fraudsters through a share trading scam. The police have registered a case against three suspects under the Information Technology Act, and the investigation is ongoing.

A senior resident of Thane district in Maharashtra fell victim to a cyber fraud, losing over Rs 47 lakh. The incident was revealed by the police on Saturday.

Police filed charges against three individuals under the Information Technology Act following a complaint. Investigators are delving into the deception, which occurred between December 2024 and February 2025.

The perpetrators, involved in both a WhatsApp group and a share trading app, enticed the victim with promises of high returns from online share trading. The victim transferred Rs 47,01,652 across several bank accounts over three months before realizing the fraud.

(With inputs from agencies.)