A 48-year-old man from Navi Mumbai, Maharashtra, was reportedly swindled of Rs 1.07 crore by fraudsters who enticed him into share trading with promises of high returns. The Navi Mumbai cyber police have filed a case against 15 individuals, including the app and website owners involved in the scam.
The scammers, who contacted the victim residing in Kharghar between February 13 and May 5, convinced him of profitable trading opportunities and instructed him to transfer funds to multiple bank accounts. Despite depositing Rs 1,07,09,000, the victim received no returns or refunds as assured.
Upon realizing the deception, the man lodged a complaint with the cyber police. Subsequently, the police registered a case under sections 419, 420, and 34 of the Indian Penal Code, along with relevant provisions of the Information Technology Act.