Nagpur man loses Rs 1.4 crore in cyber fraud

Nagpur, Aug 30 (PTI) A man from Nagpur lost Rs 1.4 crore after cyber criminals allegedly lured him with "huge" profits on investment, police said on Saturday.

The complainant, who works as a manager in a private company, told the police that he came across an investment link on Facebook and WhatsApp on July 25.

He first invested Rs 1 lakh and received a return of Rs 4 lakh. After being promised "huge" returns, he transferred Rs 1.4 crore to different accounts, even borrowing from relatives and friends.

Those in touch with him created a fake online account showing massive profits, but stopped responding when he tried to withdraw the money, the official said, citing the complaint.

Realising he had been scammed, the man then lodged a complaint at the Nagpur Cyber Police Station.

A case has been registered under the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act, the official said, adding that a probe is underway. PTI COR NR