Thane Resident Reports Rs 1.17 Crore Loss In Online Investment Fraud Case

A 39-year-old resident of Thane was allegedly cheated of over Rs 1.17 crore in a sophisticated online investment fraud. Fraudsters lured the victim into investing in virtual stores on platforms resembling Facebook Shop and similar e-commerce setups, promising easy profits and high returns. The scam unfolded through online communications, where the perpetrators convinced the man to transfer substantial sums to various accounts under the guise of legitimate business opportunities.

According to reports from police and news sources including NDTV, the victim began engaging with the fraudsters after being contacted online, likely through social media or messaging apps. He was shown fabricated proofs of earnings and encouraged to invest progressively larger amounts. Over time, the total transferred reached more than Rs 1.17 crore, with the scammers maintaining contact to build trust and prevent early suspicion. Such schemes often involve fake dashboards or apps displaying inflated profits to keep victims hooked.

The fraud came to light when the victim attempted to withdraw his supposed earnings or recover his funds, at which point the perpetrators ceased communication or raised additional demands. A case has been registered by the Thane police, likely under provisions of cheating, fraud, and relevant sections of the Information Technology Act. Investigations are underway to trace the bank accounts, digital footprints, and identities of the perpetrators, who are believed to be part of an organized cybercrime network operating across regions.

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This incident highlights the persistent rise of online investment scams in India, particularly those exploiting platforms like social media and fake trading or e-commerce interfaces. Authorities have noted a surge in similar cases in Maharashtra, where fraudsters use WhatsApp groups, Facebook ads, or unsolicited messages to target individuals with promises of quick wealth. In many instances, victims are shown artificial gains before being blocked, leading to significant financial losses.

Cybercrime experts advise extreme caution with unsolicited investment offers, urging people to verify any scheme through official regulatory bodies like SEBI and avoid transferring money to unknown accounts. Police continue to emphasize reporting such incidents promptly to cyber cells for better chances of recovery and to aid in dismantling fraud networks. The Thane case serves as a stark reminder of the need for vigilance in the digital financial space amid increasing cyber threats.

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