India News | Navi Mumbai Man Loses Rs 1.4 Crore to Cyber Fraud

Thane, Nov 2 (PTI) The Navi Mumbai police in Maharashtra have registered a case against five people for allegedly duping a 58-year-old man of nearly Rs 1.4 crore by promising him high returns, an official said on Thursday.

Citing the complainant, the official said the accused convinced the man, who lives in Vashi, that he would get handsome returns if he invested in shares through them.

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They then provided links and made him pay Rs 1.37 crore between July and October this year, the official said. When the man did not receive any money despite follow-ups, he approached the police.

The Navi Mumbai police on Wednesday registered a case under the Indian Penal Code and IT Act.

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The first information report (FIR) names the accused as Aryan Bhavar, Aryan Gupta, Emma, Gloria and Group Admin of ‘Stock Market Alliance VIP 991', the official said, adding that the cyber police are probing the matter.

(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)