Man Loses Rs 1.1 Crore In Navi Mumbai 'Cyber Fraud'

Cyber fraudsters have cheated a 58-year-old man from Navi Mumbai in Maharashtra of more than Rs 1 crore after promising high returns in a share market investment scheme, police said on Tuesday.

Some persons posing as financial advisors persuaded the victim, a resident of Belapur in Navi Mumbai, to invest in the scheme and added him to WhatsApp groups formed to execute the fraud, a Cyber Police Station official



said.

The victim was asked to download an app and was sent a link, following which he transferred a total of Rs 1,10,07,000 into multiple bank accounts over the last three months, the police said. After being unable to retrieve the money, he approached the police. 

Based on his complaint, the police on Sunday registered a case against several individuals under relevant provisions of the Bharatiya Nyaya Sanhita and the Information Technology Act.