shot-button
Lake Levels Lake Levels
Home > Mumbai > Mumbai Crime News > Article > Palghar Bank manager brother friend lose Rs 84 lakh in share trading scam

Palghar: Bank manager, brother & friend lose Rs 84 lakh in 'share trading' scam

Updated on: 10 May,2024 12:47 PM IST  |  Palghar
mid-day online correspondent |

The Manickpur police launched a cheating complaint against the seven suspects after Palghar Bank manager, brother & friend lose Rs 84 lakh.

Palghar: Bank manager, brother & friend lose Rs 84 lakh in 'share trading' scam

Representative Image

Police in Palghar district, Maharashtra, have lodged a complaint against seven individuals for allegedly swindling a bank manager and two others out of over Rs 84 lakh by promising substantial returns on investments, an official disclosed on Friday.


According to the complaint filed by the victims, between March and April, two of the accused pressured a bank manager based in Vasai into purchasing shares and IPOs. Subsequently, the bank manager's brother and a friend also became involved in the scheme, as reported by PTI.


The victims invested a total of Rs 84.63 lakh, according to the official statement, per PTI report.


However, when they demanded returns on their money, the accused unexpectedly terminated their connection with them. When the victims realised they had been duped, they approached the police to denounce the scam.

The Manickpur police launched a cheating complaint against the seven suspects on Wednesday, according to a police officer quoted in the story.

In another incident, a 55-year-old Tantrik has been arrested for allegedly raping a woman repeatedly on the pretext of solving some domestic issues in Thane district. According to the report, the police arrested the accused identified as Santosh Poddar alias Vinod Pandit from Shanti Nagar area of Mira Road. 

Reportedly, he was charged under Sections 376(2)(n) (commits rape repeatedly on the same woman), 506 (criminal intimidation) and other relevant provisions of the Indian Penal Code and the Maharashtra Prevention and Eradication of Human Sacrifice and other Inhuman, Evil and Aghori Practices and Black Magic Act, 2013.

The accused, who claimed to be a tantrik (sorcerer), worked in the area and advertised on Facebook, stated the PTI report. 

According to the report, the woman sought Poddar seeking a solution to certain domestic troubles, and he allegedly raped her on several times under the guise of healing her, according to an official.

The accused also took unpleasant videos of her and threatened her, the PTI report quoted an official as saying. 

Fed up with the pestering, the woman alerted the police earlier this week, he said, adding that an investigation is underway to see whether the accused similarly exploited other women, the report added. 

"Exciting news! Mid-day is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest news!" Click here!

Register for FREE
to continue reading !

This is not a paywall.
However, your registration helps us understand your preferences better and enables us to provide insightful and credible journalism for all our readers.

Mid-Day Web Stories

Mid-Day Web Stories

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK