Representative image showing a police report.
Credit: iStock Photo
Thane: Police have registered a case against 11 unidentified persons for allegedly cheating a man from Thane district in Maharashtra by luring him into investing more than Rs 69 lakh in the stock market, an official said on Wednesday.
The 48-year-old victim is an automation engineer residing at Gaibinagar in Bhiwandi, he said.
"Between July 30 and October 9, the accused called up the victim and lured him into investing in the stocks, which did not exist in reality. They collected Rs 69,98,375 from him on the promise of high returns. Later, when the victim sought his invested amount back, the accused did not respond. After he realised that he had been cheated, the victim approached the police," the official of Shantinagar police station said.
Based on his complaint, a case under sections 318 (4) (cheating), 3 (5) (common intention) of the Bharatiya Nyaya Sanhita (BNS) and also the Information Technology Act was registered against the accused, he said.