A man residing in Thane city of Maharashtra was allegedly cheated to the tune of Rs 11.50 lakh in a case of online investment fraud, police said on Friday.

An offence under IPC sections 419 (cheating by personation), 420 (cheating and dishonestly inducing delivery of property) and also section 66D of the IT act against an unidentified person at Kopri police station in the city in this connection.