Thane, Nov 6 (PTI) Police have registered a case against five persons for allegedly cheating a 55-year-old man from Navi Mumbai of Rs 96 lakh by luring him to invest in shares for good returns, an official said on Monday.

The accused contacted the victim, resident of Nerul area, on different occasions between August 12 and 30 and asked him to invest in shares

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The victim made an investment of Rs 96,72,100, but when he asked for returns, the accused gave evasive replies, the official from cyber police station said.

Based on the victim's complaint, the police registered a case against the five accused on Saturday under Indian Penal Code sections 420 (cheating) and 34 (common intention) and provisions of the Information Technology Act, he said.

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(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)