A 66-year-old retired government employee from Maharashtra's Thane district was allegedly duped of Rs 2.85 crore after being lured with "high returns" on shares, an official said on Wednesday, reported news agency PTI.

The complainant, a resident of Vishnu Nagar in the Dombivali area, lost the money over about two months.

The senior citizens told the police that he was contacted over the mobile phone by some persons claiming to be representatives of an investment firm and a reputed security trading company.