Navi Mumbai Builder Loses Rs 13.5 Cr in Share Trading Fraud

Thane, Aug 13 (PTI) A Navi Mumbai-based builder was allegedly cheated of more than Rs 13.5 crore by cyber fraudsters who lured him into share trading, police said on Tuesday.

Based on a complaint, a case under sections 319(2) (cheating by personation) and 318(4) (cheating) of the Bharatiya Nyay Sanhita and relevant provisions of the Information Technology Act was registered at Cyber police station, senior inspector Gajanan Kadam of the Cyber police station said.

The builder has alleged that the accused contacted him through various means and lured him to take up share trading by sending money to different bank accounts over the last eight months, he said.

The complainant invested more than Rs 13.5 crore, and when he sought returns and the original investment, the alleged accused did not respond, the official said.