A 36-year-old assistant manager from Thane lost Rs28.59 lakh in an online share trading fraud. The man had been lured through a Facebook advertisement promising high returns. After joining a WhatsApp group, he was asked to download a bogus trading app where his profile falsely reflected earnings of Rs 1.40 crore.
Between July 23 and August 5, he transferred Rs28.59 lakh through four online transactions. However, when he attempted to withdraw, his requests were repeatedly denied. The fraudsters then demanded an additional Rs27.04 lakh as taxes to release the funds.
When the complainant refused, the scammers stopped responding. He later visited the Sewri office of the purported trading company, only to discover he had been cheated. Police said such scams are on the rise, with fraudsters using fake apps and WhatsApp groups to dupe unsuspecting investors.
