Navi Mumbai Man Loses Rs 45.69 Lakh in Cyber Fraud Scheme

Navi Mumbai, 16th April 2024: A 44-year-old man from Navi Mumbai has become the victim of a cyber fraud scheme, losing Rs 45.69 lakh to scammers who persuaded him to invest in share trading. The incident was reported to the authorities on Tuesday.

An FIR has been lodged against five individuals under charges of cheating, criminal breach of trust, and other relevant sections of the Indian Penal Code and the Information Technology Act. According to an official from the cyber police station, the fraudsters approached the victim through various social media platforms, enticing him with promises of lucrative returns on his investment in share trading.

Between March 2 and April 14, the victim invested Rs 45.69 lakh but did not receive any returns on his investment and was unable to recover the funds. The police are now working to identify the perpetrators using the mobile numbers, WhatsApp groups, and Telegram IDs they used to contact the victim.