shot-button
Subscription Subscription
Home > Mumbai > Mumbai News > Article > Thane man loses Rs 94 lakh in share trading scam

Thane man loses Rs 94 lakh in share trading scam

Updated on: 19 June,2024 01:08 PM IST  |  Mumbai
mid-day online correspondent |

The man from the Kalyan area was cheated between April 9 and May 21

Thane man loses Rs 94 lakh in share trading scam

Representational Image

Listen to this article
Thane man loses Rs 94 lakh in share trading scam
x
00:00

An official on Wednesday said a 48-year-old man from Maharashtra's Thane district lost nearly Rs 94 lakh after falling prey to a share trading scam, reported news agency PTI.


The man from the Kalyan area was cheated between April 9 and May 21.



In his complaint, the man said he came across a WhatsApp group named 'The Value Team A 13' where many members posed as "experts and dished out tips" on making money through the share market, reported PTI.


Police said the "experts" induced the complaint to invest using links and applications provided by them.

The man invested Rs 93.6 lakh in all but did not get any money in return. Realising he had been tricked, the man filed a police complaint, reported PTI.

"We have started an investigation into the share trading scam. Our teams are working to gather evidence and track down the accused," the station house officer at Khadakpada police station told PTI.

In another case, a police official on Monday said a 70-year-old man from Kolshet in Thane city lost Rs 2.08 crore after online fraudsters lured him into share trading and promised high returns, reported PTI.

The Kapurbawdi police station official told PTI that between April and June this year, the man was contacted via Whatsapp by the accused who gave him links to download and bank accounts to transfer money into as part of a share trading scheme, reported PTI.

"He approached police after he did not get any return on his investments and the accused started avoiding his calls etc. We have named three Whatsapp groups and two admins identified as Ravi Singh and Aamin in the FIR registered on Sunday. No one has been arrested as yet in the case," he said, reported PTI.

Meanwhile, the Thane police have registered a case against an employee of a jewellery store for allegedly running away with ornaments worth about Rs 5 lakh, an official said on Wednesday, reported PTI.

According to the station house officer of Kapurbawdi police station, the shop owner on Tuesday gave the jewellery to his staffer Kuldipsingh Rawat (41) to get it hallmarked, reported PTI.

However, Rawat soon became unreachable on the phone. He neither went to the hallmarking unit nor returned to the shop, the owner told the police, reported PTI.

A case has been registered against Rawat under IPC section 408 for criminal breach of trust, the official said.

(With inputs from PTI)

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Register for FREE
to continue reading !

This is not a paywall.
However, your registration helps us understand your preferences better and enables us to provide insightful and credible journalism for all our readers.

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK