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Thane engineer loses Rs 3 crore in online trading fraud

Updated on: 22 February,2026 02:40 PM IST  |  Thane
mid-day online correspondent |

The complainant, a resident of the Kasarvadavali area, alleged that a person had contacted him and promised high returns through investments on a website

Thane engineer loses Rs 3 crore in online trading fraud

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A 46-year-old mechanical engineer in Maharashtra's Thane city has allegedly been duped of Rs 3.15 crore after being lured to invest in a fraudulent online trading platform, police said on Sunday, reported news agency PTI.

The complainant, a resident of the Kasarvadavali area, alleged that a person had contacted him and promised high returns through investments on a website, reported PTI.


Believing the representation to be true, the complainant invested Rs 3,15,67,954 between December 12, 2025 and February 11 this year, cyber police station sub-inspector Lahu Rathod said.



"The complainant stated that he was initially shown a profit of USD 5 lakh on the platform, which built his confidence. However, when he attempted to withdraw or secure his invested amount, his account was blocked and he realised that he had been cheated," the official said, reported PTI.

Based on his complaint, the police registered a case on Friday against three individuals under Bharatiya Nyaya Sanhita sections 318(4) (cheating) and 316(2) (criminal breach of trust), and sections 66(C) and 66(D) of the Information Technology Act for cheating, impersonation and online fraud, he said. A probe was underway into the case.

Thane murder accused held from Palghar after year-long hunt

In another case, the police have arrested a 24-year-old man from Palghar who had been absconding for more than a year in connection with a murder during a New Year party in Maharashtra's Thane district, officials said on Sunday, reported PTI.

The incident occurred in the Kashimira area in the wee hours of January 1, 2025, when the victim and his friends gathered for the celebration at the house of one of them.

While they were dancing to music being played on a sound system installed there, an argument broke out between one of them and a local man over the playing of a song, a police official said, reported PTI.

The man later called his associates to the spot and they allegedly assaulted the victim and his friends with wooden sticks and other objects, the police said.

In the attack, Raja Pariyar sustained grievous injuries and died, while two of his friends were seriously injured, the official said, reported PTI.

Based on a complaint by one of the injured persons, the Kashimira police had registered a case on charges of murder and other offences against five absconding accused.

Based on technical analysis and specific information, the police traced one of the accused, identified as Aadesh alias Chala Prakash Jadhav, to Wakipada at Naigaon in Vasai in neighbouring Palghar district and took him into custody on February 19, the police said, reported PTI.

Search was underway for the other accused, the police said.

(With inputs from PTI)

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