<p>A police official on Thursday said that a 50-year-old woman was duped of Rs 1.67 crore by online fraudsters who promised her high returns from <a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/mumbai-how-fake-stock-trading-apps-are-trapping-investors-on-whatsapp-23492741" target="_blank" rel="none noopener">share trading</a> and IPO subscriptions, reported news agency PTI.</p>
<p>The woman, who is freelance consultant living in Lokhandwala Complex in Kandivali East, was duped between February 2 and March 14 this year, he added.</p>
<p>"On Wednesday, she approached North Region Cyber Police Station and lodged a complaint, after which a case was registered against four unidentified fraudsters. The woman has told police she is active on various social media platforms, including Instagram. On February 2, she received an advertisement of share trading with a link on Instagram," he said, reported PTI.</p>
<p>"She clicked the link and was added to a WhatsApp group. The accused claimed to be working in one <a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/share-trading-scam-cyber-police-arrest-three-for-rs-2-85-cr-fraud-in-mumbai-23446602" target="_blank" rel="none noopener">TradeSmart company</a> involved in share trading, block trading and IPO subscriptions. She deposited Rs 1.67 crore but later realised she had been cheated. A case was registered under Bharatiya Nyaya Sanhita and Information Technology Act," he added, reported PTI.</p>
<h2>Investors duped of Rs 1.23 cr in share trading fraud in Thane district; 3 booked</h2>
<p>In another incident, a 60-year-old man and eight others from Maharashtra's Thane district allegedly lost Rs 1.23 crore to fraudsters who lured them to invest in share trading, promising him lucrative returns, police said on Friday, reported PTI.</p>
<p>Based on a complaint, the police have registered a case against three persons under sections 318(4) (cheating), 316(2) (criminal breach of trust) and other relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the <a href="https://www.mid-day.com/mumbai/mumbai-crime-news/article/thane-senior-citizen-loses-over-rs-47-lakh-in-online-share-trading-fraud-23496099" target="_blank" rel="none noopener">Maharashtra</a> Protection of Interest of Depositors (MPID) Act, an official said.</p>
<p>According to the police, the alleged fraud occurred between November 2023 and March 2025.</p>
<p>The official said the accused, Aniket Muzumdar (35), Sandesh Joshi (43), and Sanket Joshi (36), all residents of Dombivli, ran an investment advisory firm and conducted share market training sessions, reported PTI.</p>
<p>The trio allegedly lured victims by promising high and assured returns through strategic investments in the <a href="https://www.mid-day.com/amp/mumbai/mumbai-crime-news/article/thane-man-cheated-of-rs-67-65-lakh-in-online-share-trading-fraud-23504348" target="_blank" rel="none noopener">stock market</a>, he said.</p>
<p>"The accused projected themselves as experts and built trust among the victims by conducting formal training and offering professional advice," the official said, reported PTI.</p>
<p>He said the victims collectively invested Rs 1.23 crore, and when they started asking for returns or the refund of their principal amounts, the accused allegedly avoided their calls and gave evasive responses.</p>
<p>A probe is underway to trace the accused and recover the defrauded amount, the official said, adding that more such victims might emerge during investigations.</p>
<p><strong>(With inputs from PTI)</strong></p><p>
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A police official on Thursday said that a 50-year-old woman was duped of Rs 1.67 crore by online fraudsters who promised her high returns from share trading

Mumbai: Woman duped of Rs 1.67 cr by cyber criminals over promise of share trade profits

Investors duped of Rs 1.23 cr in share trading fraud in Thane district; 3 booked

The woman, who is freelance consultant living in Lokhandwala Complex in Kandivali East, was duped between February 2 and March 14 this year

Mumbai: Woman duped of Rs 1.67 cr over promise of share trade profits

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