Navi Mumbai man defrauded of Rs 96 lakh; five booked

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Navi Mumbai police have registered a case against five persons for allegedly cheating a 55-year-old man of Rs 96 lakhs, an official told PTI on Monday. According to the report, the accused lured him to invest in shares for good returns.

Reportedly, the accused contacted the victim, a resident of Nerul, on different occasions between August 12 and 30; he persistently asked him to invest in shares. Following that, the victim made an investment of Rs 96, 72,100. However, when asked for returns by the victim, the accused's replies became evasive, the official from the cyber police station told PTI.

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Based on the victim's complaint, the police registered a case against the five accused on Saturday under Sections 420 (cheating) and 34 (common intention) of the Indian Penal Code and provisions of the Information Technology Act.

Recently, a Nagpur man fell victim to a cyber fraud scheme and lost an estimated Rs 3.63 lakh. According to a report in PTI, the 29-year-old youth was approached by a 'YouTube promoter' through WhatsApp who enticed him with an offer to earn additional income by participating in online tasks. Initially, the victim received some money.

In the meanwhile, the accused allegedly got the man's bank information and subsequently encouraged him to invest money with the promise of high returns. The complainant transferred around Rs 3.65 lakh to various bank accounts, an official told PTI. After realising he was conned, he filed a complaint with the police.

Presently, a case has been registered under Section 420 of the IPC and relevant provisions of the Information Technology Act, the report stated.

Meanwhile, in another foreign currency exchange fraud, a Thane man lost Rs 3 lakhs. The victim, who is aged 34, is a resident of Dombivli. He was approached by the accused who offered him Dirhams at a cheap exchange rate. The man gave him the money last week, as per the PTI report, and the accused gave him 'Dirhams' in exchange the victim later realised that there were many blank paper pieces amid the note bundle and filed a complaint against three people.

With PTI inputs