A 48-year-old resident of Thane city in Maharashtra has allegedly fallen prey to financial deception, losing a staggering Rs 40.75 lakh in a stock trading scam. The victim was allegedly swayed by promises of lucrative returns.
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In a similar incident, a retired bank employee in Nagpur city has reportedly been defrauded of Rs 87.6 lakh by cyber criminals. The fraudsters, operating within the realm of share trading, exploited the retiree’s trust, leading to substantial financial loss.
In Thane’s fraud, a case has been registered in this connection against four persons, police told news agency PTI.
Modus Operandi
The accused contacted the man, working in a private company, on different occasions from March this year and made him a member of a WhatsApp group.
They then asked him to get into stock trading by downloading an application and the money that he invested through it went into the accounts of the accused, PTI quoted an official as saying.
When the man sought returns and the invested amount, the accused gave evasive replies.
The accused subsequently filed a complaint based on which the police on Saturday registered an FIR against four persons under relevant provisions, the official said.
Nagpur Case
Based on a complaint, the Nagpur police have registered a case under relevant provisions of the Indian Penal Code and Information Technology Act, an official said.
The 60-year-old complainant allegedly received a message from his daughter’s Instagram account about investing and earning huge returns after completing online courses on an application, he said.
Accordingly, he downloaded the application on his mobile phone, completed the online courses on May 16, and started getting suggestions for investments in different companies, he said.
The complainant transferred Rs 87.6 lakh to the bank accounts of three companies through immediate payment service (IMPS) for investments, the official said.
When he did not receive any returns, the complainant realised that he had been duped, he said.
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