Daijiworld Media Network – Navi Mumbai

Navi Mumbai, Sep 29: A 58-year-old man from Belapur in Navi Mumbai was allegedly cheated of Rs 1.10 crore by cyber fraudsters who promised him high returns through a share market investment scheme, police said on Tuesday.

According to police, some persons posing as financial advisors persuaded the victim to invest in the scheme and added him to WhatsApp groups created to carry out the fraud.

The victim was asked to download an application and was sent a link through which he transferred a total of Rs 1,10,07,000 to multiple bank accounts over a period of three months, police said.

After he was unable to retrieve the money, the victim approached the police and lodged a complaint.

Based on his complaint, the Cyber Police Station on Sunday registered a case against several individuals under relevant provisions of the Bharatiya Nyaya Sanhita and the Information Technology Act.

A probe is underway to identify the accused and trace the money, police said.