Thane man working in Bangladesh cheated of Rs 28 lakh in shares trading fraud

Thane: A 43-year-old manager of a cloth factory in Dhaka has been allegedly cheated of Rs 28 lakh after being promised good returns in shares trading while on vacation to his native place in Maharashtra's Thane district, police said on Sunday.

The man came here on a vacation in October 2023 and came across an offer on Facebook of lucrative returns in the trading of shares.

He subsequently joined multiple trading groups where he received messages, including from four persons accused in this case.

He allegedly made payments of Rs 28,22,300 in December 2023 as instructed by the accused through various links shared on mobile phone, an official from Badlapur West police station said.

Despite making the investments, the victim did not receive any returns. He was also unable to recover his money upon seeking a refund from the accused, who became unresponsive, the official said.

Based on the victim's complaint, the Badlapur West police on Friday registered an FIR against four persons under relevant provisions, he said, adding a probe was on into the case.

The police have appealed to the people to exercise caution and be vigilant while engaging in online trading activities to avoid falling prey to fraudulent schemes.