A 48-year-old Thane-based engineer lost Rs24.20 lakh in a share trading fraud after falling for an Instagram ad that directed him to a fake WhatsApp group and a bogus trading app. Between April 21 and May 8, the man transferred funds to four different bank accounts provided by the scammers.
On May 10, he was denied withdrawal of his supposed Rs1.13 crore profit. When asked to pay additional ‘advance taxes’, he realised the scam and filed a police complaint.
Thane police have registered an FIR under relevant sections of the Bharatiya Nyaya Sanhita and the IT Act related to cheating, forgery, and identity theft.
