A case has been registered against one Tracy Clerk, Paul J Tudor, Bran Camron, and Benjamin Jadore, along with an entity named Metaxoption Company under sections 318(4) (cheating) and 316(5) (criminal breach of trust) of the Bharatiya Nyaya Sanhita, and relevant provisions of the Information Technology Act
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A 42-year-old businessman from Maharashtra's Thane city was allegedly duped of Rs 4.11 crore by cyber fraudsters, including foreign nationals, who lured him to invest in a fraudulent forex trading scheme, police said on Friday, reported news agency PTI.
Based on a complaint, the cyber police on Wednesday registered a case against some foreign nationals and an online trading company.
"A case has been registered against one Tracy Clerk, Paul J Tudor, Bran Camron, and Benjamin Jadore, along with an entity named Metaxoption Company under sections 318(4) (cheating) and 316(5) (criminal breach of trust) of the Bharatiya Nyaya Sanhita, and relevant provisions of the Information Technology Act," an officer said, reported PTI.
He said that the complainant alleged the accused contacted him between March and July 2025, and persuaded him to invest in forex trading.
"They sent him trading links from time to time and assured high returns on investments. Believing their claims, the complainant transferred Rs 4.11 crore into the bank accounts provided by the accused," the official said, reported PTI.
When the victim followed up with the accused about the returns, they evaded his queries, he said.
The official said, "So far, no arrests have been made. The money trail spans multiple accounts, and we suspect the accused may be operating from overseas locations. Technical analysis and bank transaction scrutiny are underway," reported PTI.
Man cheated of Rs 5 lakh with promise of TC job in railways
In another case, a 25-year-old man in the district was cheated of Rs 5 lakh by a person by promising to get him a job as a ticket collector in the railways, police said on Thursday, reported PTI.
Vishal Vasant Niwate (37), the accused, has already been arrested in another case, reported PTI.
As per Prathamesh More, a resident of Kalyan, he paid Niwate a total of Rs 5 lakh between January 10 and February 2 through UPI apps, said assistant inspector Pravin Bakal of Khadakpada police station, reported PTI.
When More did not get any appointment letter and the accused gave him evasive replies, he filed a complaint a few days ago.
"We have registered a case under sections 318(4) (cheating), 316(2) (criminal breach of trust), 336(3) (forgery of electronic records) and 340(2) (forged document or electronic record and using it as genuine) of the Bharatiya Nyaya Sanhita," the official said.
Vishal Niwate is currently in judicial custody in another case registered at Manpada police station and police suspect that he may have cheated others using the same method, API Bakal said, reported PTI.
(With inputs from PTI)
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