India News | Pathology Lab Owner Loses Rs 42.35 Lakh in Share Trading Fraud

Thane, Mar 5 (PTI) A 47-year-old pathology lab owner in Maharashtra's Thane district has allegedly been cheated of Rs 42.35 lakh in a share trading fraud, police said on Wednesday.

A fraudster had contacted the victim, resident of Belavali in Badlapur area, over phone and lured him into investing in shares, promising lucrative returns.

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The accused provided the victim with investment links, through which the latter made transactions of Rs 42,35,476 between June 2023 and November 2024, an official from Badlapur West police station said.

Layer, the accused failed to provide any returns to the victim and eventually became unresponsive, he said.

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The victim approached the police on Monday and lodged a complaint.

An FIR has been registered against the fraudster under relevant provisions of the Information Technology (IT) Act and efforts are on to trace the accused, the police said.

(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)