Thane, August 18 (PTI) — A case of fraud has been reported in Thane city, where two individuals allegedly swindled a 48-year-old man of Rs 40.99 lakh through a false online trading scheme, police revealed on Monday. According to the victim's account, he noticed a trading advertisement on Facebook. Intrigued, he subsequently joined a WhatsApp group where he was misled by scammers into investing in IPOs. During May and June, the victim transferred a substantial sum of Rs 40,99,814 to certain bank accounts. Initially, his account balance ostensibly showed an increase to Rs 88,39,072, but he discovered that he was unable to withdraw the funds. The deception unfolded further when the fraudsters demanded a payment of 20 per cent of the amount as tax, prompting the man to realize that he had been duped. Following unsuccessful attempts to retrieve his money, he reported the incident to the police. An FIR was lodged against two individuals, including a woman, under Sections 318(4) (cheating) and 3(5) (common intention) of the Bharatiya Nyaya Sanhita, in conjunction with relevant provisions of the Information Technology Act. An official from the Vartak Nagar police station provided these details.
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