Thane, Jul 26 (PTI) A 73-year-old retired general manager of the Small Industries Development Bank of India (SIDBI) from Navi Mumbai has allegedly been duped of Rs 65.19 lakh in an online share trading fraud, police said on Sunday.
The fraudsters added the victim, a resident of Kharghar in Navi Mumbai, to a WhatsApp group on June 23. The group admin promised double returns through stock trading, and the victim believed it to be an official forum due to its logo, a police official said.
“The fraudsters lured the victim to download a fake app via a link and shared forged SEBI registration certificates to gain trust,” the official said.
Between June 30 and July 22, the victim transferred Rs 65.19 lakh across multiple transactions into various bank
accounts provided by the accused.
The fraudulent app displayed a fictitious balance of Rs 12.4 crore, and the fraudsters demanded an additional Rs 27 lakh when the victim attempted to withdraw funds, threatening to freeze the account upon non-payment, the police said.
The victim later lodged a complaint on the national cyber crime portal, prompting the police investigation.
The Navi Mumbai Cyber Police registered a case on July 24 against unidentified persons under Sections 318(4) (cheating), 319(2) (cheating by personation) and 3(5) of the Bharatiya Nyaya Sanhita, and provisions of the Information Technology Act, the official added. PTI COR GK
