A 60-year-old Navi Mumbai man was defrauded of Rs 58 lakh by cyber criminals who promised lucrative returns on share investments, using fake links and false claims of bank affiliation.
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A 60-year-old man from Navi Mumbai has been cheated of Rs 58 lakh by cyber fraudsters, who lured him into investing in shares, the police said on Monday.
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According to the police, the victim, a design consultant, was approached by the fraudsters in October with an enticing offer of lucrative returns on share investments. The suspects reportedly sent the man online links, which directed him to deposit money for the purported investments. However, when the man later tried to inquire about his funds and the expected returns, the fraudsters failed to provide any satisfactory response, prompting suspicion.
The accused claimed to be associated with the share trading division of a well-known nationalised bank, further convincing the victim of the legitimacy of their offer. Based on the complaint filed by the victim, the cyber police registered a case on Friday under sections 336 (3) (forgery), 318 (4) (cheating by personation), and other relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology (IT) Act, an official said.
As per the victim’s account, he lost a total of Rs 58 lakh between October 16 and November 28, after making several deposits for the supposed investment. The fraudsters presented him with an investment statement that showed an account balance of Rs 5.12 crore. However, when the victim attempted to withdraw the amount, he was informed that he needed to pay an additional Rs 50.8 lakh to access his funds.
The persistent demands for further payments raised alarm bells, and the victim soon realised that he had been duped. Upon realising the extent of the fraud, the complainant approached the Cyber Police for assistance.
The authorities have begun investigating the case and are attempting to trace the culprits involved in the cyber scam. This incident highlights the growing concern of cyber fraud in the financial sector, with scammers continuously finding new ways to exploit unsuspecting individuals.
(With inputs from PTI)
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