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Maharashtra: Badlapur couple loses Rs 21.9 lakh in share trading scam

Updated on: 30 December,2025 01:09 PM IST  |  Thane
mid-day online correspondent |

The victims, who are residents of Badlapur, lost the sum within 11 days of joining a group called "Bull Market Guide Community" on WhatsApp in November, an official said

Maharashtra: Badlapur couple loses Rs 21.9 lakh in share trading scam

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A couple from Maharashtra's Thane district was allegedly cheated of Rs 21.9 lakh by cyber fraudsters who lured them into indulging in share trading on a WhatsApp group, police said on Tuesday, reported news agency PTI.

The victims, who are residents of Badlapur, lost the sum within 11 days of joining a group called "Bull Market Guide Community" on WhatsApp in November, an official said.


He said that unidentified fraudsters added the complainants to the WhatsApp group and promised them high returns through share trading. They were coerced into investing Rs 21.9 lakh in various shares, but found out that they had been cheated when they were unable to withdraw their original investment and the promised profits, reported PTI.



The police have registered a first information report under Section 318 (cheating) of the Bharatiya Nyaya Sanhita and relevant provisions of the Information Technology (IT) Act, the official said, adding that a probe is underway.

Driver held for stealing tour company's bus over unpaid wages in Palghar

In another case, a former driver with a tour company has been arrested for allegedly stealing a bus over unpaid wages in Maharashtra's Palghar district, police said on Tuesday, reported PTI.

The owner of a tour company reported the vehicle missing from the Waliv Phata area on December 23, following which a theft case was registered, an official said.

During the investigation, the police zeroed in on Kunal Kishore Gaikwad (27), a former employee. Upon interrogation, he confessed that he had stolen the vehicle in a fit of rage, as the company owed him one month's salary despite repeated requests, he said, reported PTI.

The stolen bus, worth Rs 15 lakh, was recovered from Vasai, he added.

Navi Mumbai man duped of Rs 32 lakh with promise of job at JNPT; one booked

Meanwhile, a 34-year-old man from Navi Mumbai was allegedly cheated of Rs 32 lakh with a promise of a job at the Jawaharlal Nehru Port Trust (JNPT), police said on Monday, reported PTI.

The Vashi police have registered a case against Rishabh Rajesh Mhatre, a resident of Uran, under sections 318(4) (cheating) and 336(3) (forgery) of the Bharatiya Nyaya Sanhita (BNS), an official said, reported PTI.

He said that the fraud occurred between March and December 2024 when the alleged accused lured the complainant, a resident of Ulwe, with an offer for the post of "Export Assistant Manager" at JNPT, and created and presented forged documents related to the recruitment process.

Over several months, the complainant was coerced into paying a total of Rs 32 lakh in instalments, and the complainant realised he had been duped when the job did not materialise, the official said, reported PTI.

No arrest has been made so far, and a probe is underway, he added.

(With inputs from PTI)

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