Thane man loses Rs 40.75 lakh in stock trading fraud; 4 booked

NewsDrum Desk
New Update

Thane, Jun 10 (PTI) A 48-year-old man from Thane city in Maharashtra has allegedly been cheated of Rs 40.75 lakh by some persons after being lured into trading of stocks for high returns, police said on Monday.

A case has been registered in this connection against four persons, they said.

The accused contacted the man, working in a private company, on different occasions from March this year and made him the member of a WhatsApp group.

They then asked him to get into stock trading by downloading an application and the money which he invested through it went into the accounts of the accused, the official said.

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. PTI COR GK