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Thane man defrauded of Rs 28 lakhs in share trading scam

Updated on: 03 March,2024 02:43 PM IST  |  Thane
mid-day online correspondent |

The Thane man received no return despite having invested a huge amount and when he sought reimbursement, the accused stopped communication.

Thane man defrauded of Rs 28 lakhs in share trading scam

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A 43-year-old manager of a cloth factory in Dhaka fell victim to an alleged scam, losing Rs 28 lakh after being seduced by promises of big returns in share trading while on holiday in his hometown in Maharashtra's Thane district, police said Sunday.

According to the PTI report, during his vacation in October 2023, the man came across an attractive offer on Facebook offering huge profits from share trading. Intrigued, he joined many trading groups and received messages from four people accused of the scam.

Following instructions from the accused conveyed through various links shared on his mobile phone, the victim made payments totalling Rs 28,22,300 in December 2023, the PTI report added. 

Reportedly, despite investing a large sum, the victim received no return on his investment. Furthermore, his attempts to obtain reimbursement from the accused were useless because they ceased communication.

On Friday, in response to the victim's allegation, the Badlapur West police station filed an FIR against the four individuals under the applicable rules. A thorough investigation of the situation is presently ongoing, the report added. 

Authorities have often issued a warning, advising the public to exercise caution and prudence when engaging in online trading activities to avoid falling victim to fraudulent schemes.

Police Foil Dacoity Attempt, Arrest Four Armed Men in Thane

Authorities in Maharashtra's Thane district successfully foiled a dacoity attempt and detained four armed individuals, an official confirmed on Sunday.

The event, which occurred on February 28, resulted in the registration of a case under Sections 399 (planning to commit dacoity) and 402 (assembly to commit dacoity) of the Indian Penal Code, as well as applicable provisions of the Arms Act, stated a report in PTI. 

According to the agency report, law enforcement's quick action prevented a potentially violent situation, proving their dedication to ensuring public safety and eliminating criminal activity in the region.

Police apprehended a group of males who were allegedly armed with a knife, sickle, chopper, iron rod, rope, chilli powder, and a bag of stones while standing beside a pick-up van, cited the official's statement.

The police apprehended Eteshyam Munir Sonde, Kais Mehboob Beig, Dawood, and Parvesh Kohri at the site. However, two more people evaded detention and fled the scene, PTI report further stated. 

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