Navi Mumbai Woman Cheated Of Rs 1.92 Crore In Online Share Trading Scam

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New Delhi: Recently, police in Maharashtra have taken action against nine individuals for allegedly tricking a 40-year-old woman from Navi Mumbai out of Rs 1.92 crore through online share trading. Read further to find out the minute details of the story.

How The Scam Unfolded?

The accused individuals enticed the victim, a resident of New Panvel, into participating in the online trading of shares by promising significant returns on her investments. ()

Financial Losses Incurred

The victim complied with the instructions provided by the accused and transferred a total of Rs 1,92,82,837 to various bank accounts since December 2023. However, despite her investments, she found herself unable to withdraw any funds later on. ()

Police Complaint

Frustrated by the lack of satisfactory responses from the accused regarding her inability to withdraw funds, the victim decided to take action. She filed a formal complaint with the cyber police station.

Legal Action Taken

On Tuesday, the police registered a case against the nine individuals under relevant sections of the Indian Penal Code, including 420 (cheating), 406 (criminal breach of trust), and 34 (common intention), along with provisions of the Information Technology Act.

(With PTI Inputs)