Stories
Navi Mumbai Man Loses Over Rs 1 Crore in Share Market Investment Fraud
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News18•29-09-2026, 11:15
Navi Mumbai Man Loses Over Rs 1 Crore in Share Market Investment Fraud
- •A 58-year-old Navi Mumbai resident was defrauded of more than Rs 1 crore in a share market investment scam.
- •Cyber fraudsters, posing as financial advisors, promised high returns to the victim.
- •The victim was added to WhatsApp groups and instructed to download an app, then transferred Rs 1,10,07,000 to multiple bank accounts over three months.
- •After being unable to retrieve his money, the man filed a police complaint.
- •A case has been registered under the Bharatiya Nyaya Sanhita and the Information Technology Act, with an investigation currently underway.
Key Questions Answered
A 58-year-old man from Belapur, Navi Mumbai, lost more than Rs 1 crore after cyber fraudsters lured him into a fraudulent share market investment scheme.
The fraudsters posed as financial advisors, added the victim to WhatsApp groups, and sent him a link to download a fraudulent mobile application.
Following the victim's complaint, the police registered a case against several individuals on Sunday under the relevant provisions of the Bharatiya Nyaya Sanhita and the Information Technology Act, and an investigation is underway.
