A 23-year-old man from Maharashtra's Thane city was allegedly cheated of over Rs 12.5 lakh on online trading applications, police said on Tuesday.
The matter came to light when the victim, a resident of Davle Nagar, lodged a complaint in this regard at Vartak Nagar police station, an official said.

As per the complaint, the victim, who frequented several online trading portals, was wooed by schemes that promised good returns on investment, the official said.