Four booked for cheating Navi Mumbai woman of Rs 19.2 crore in online share trading

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A 48-year-old Navi Mumbai woman has allegedly been cheated to Rs 1.92 crore in online share trading following which police have registered a case against four persons, an official said on Thursday, reported news agency PTI.

The accused lured the Navi Mumbai woman into online trading of shares with a promise of good returns on her investments.

The victim, resident of Vashi area, made payments of Rs 1,92,49,200 into some bank accounts over the last two months, Cyber police station's senior inspector Gajanan Kadam said, reported PTI.

However, when the Navi Mumbai woman asked for the returns and the invested amount, the accused gave evasive replies and also avoided her calls, reported PTI.

Following her complaint, the police on Wednesday registered a case against four persons under relevant sections of the Indian Penal Code and the Information Technology Act, the official said, reported PTI.

Also Read: Navi Mumbai: Man cheated of Rs 60,000 on pretext of foreign currency exchange; 7 held

In another case, the Navi Mumbai police have arrested seven persons for allegedly cheating a 37-year-old man of Rs 60,000 on the pretext of providing foreign currency in return for the Indian money, an official said on Wednesday, reported PTI.

The incident took place on February 23 in Vashi area of Maharashtra's Navi Mumbai township.

The accused called the victim, a mobile repair shop owner from Kurla in neighbouring Mumbai, near a lodge in Vashi and offered him US dollars in exchange of the Indian currency, assistant police inspector Pawan Nandre said, reported PTI.

The victim allegedly paid them Rs 60,000, but they did not provide him the foreign currency in exchange, he said, reported PTI.

Following the victim's complaint, the police arrested seven persons, hailing from Jharkhand, on February 24 and booked them under Indian Penal Code sections 420 (cheating) and 34 (common intention), the official said, reported PTI.

Efforts were on to nab two more persons involved in the offence, he said.

Meanwhile, A 74-year-old part-time teacher from Thane city has been swindled out of more than Rs 42 lakh in a case of cyber fraud, police said, reported PTI.

The victim, employed at a convent school in Navi Mumbai, in December last year joined a WhatsApp investment group whose members promised lucrative returns on investments, they said, reported PTI.

(With inputs from PTI)