Daijiworld Media Network - Thane

Thane, Aug 18: A 48-year-old man from Thane city was allegedly cheated of Rs 40.99 lac by two persons in a fraudulent online trading scheme, police said on Monday.

According to the complaint, the victim had come across a trading advertisement on Facebook and was later added to a WhatsApp group where fraudsters lured him to invest in IPOs. Between May and June this year, he transferred Rs 40,99,814 to different bank accounts.

His trading account soon reflected a value of Rs 88,39,072, but when he attempted to withdraw the funds, the fraudsters demanded 20 per cent of the amount as tax. It was then that the victim realised he had been duped, an official from Vartak Nagar police station stated.

After failing to recover the money, the victim approached the police. Based on his complaint, an FIR was registered on Sunday against two accused, including a woman, under sections 318(4) (cheating) and 3(5) (common intention) of the Bharatiya Nyaya Sanhita, along with provisions of the Information Technology Act, the official added.