4 booked for cheating Navi Mumbai man of Rs 17 lakh in share trading fraud

Thane, Feb 11 (PTI) The cyber police have registered a case against four persons for allegedly cheating a 45-year-old man from Navi Mumbai township in Maharashtra of more than Rs 17 lakh after luring him to invest in share trading, an official said on Sunday.

The victim, resident of Nerul area, was promised high returns in the trading.

The accused allegedly made the victim invest Rs 17.30 lakh in a fraudulent share trading scheme from December 5, 2023 to January 28, 2024, the official from cyber police station said.

When the victim did not get the returns as promised and the invested amount, he filed a police complaint.

The police on Saturday registered a case against four persons under Indian Penal Code Sections 419 (cheating by personation), 420 (cheating) and 34 (common intention), the official said, adding a probe was on into the case. PTI COR GK