Thane Man Duped in Rs 3.96 Crore Online Trading Fraud

A senior manager in Maharashtra's Thane fell victim to an online share trading fraud, losing Rs 3.96 crore. The man was convinced by scammers, including one identified as Shankar Ramrakhiyanai, to invest, only for them to disappear after receiving the funds. Police investigations are ongoing.

A 48-year-old senior manager from Thane, Maharashtra, has been defrauded of nearly Rs 3.96 crore in an online share trading scam, according to officials.

The victim reported that between May and October, he was persuaded by three individuals, including Shankar Ramrakhiyanai and a woman named Suraksha, to invest in shares and equity markets with the promise of substantial returns.

After transferring the funds to various bank accounts, communication was abruptly cut off, raising suspicions of fraud. A case has been registered at the Cyber police station in Thane, and an investigation is in progress to trace the digital and financial links.

(With inputs from agencies.)