The accused last month contacted the victim, a resident of Kalamboli area who runs a logistics business, and lured him to invest in forex and cryptocurrency trading, promising high returns, Navi Mumbai cyber cell's senior police inspector Gajanan Kadam said
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A 59-year-old Navi Mumbai businessman has allegedly been duped of Rs 60.23 lakh after being lured to invest in forex and cryptocurrency trading for lucrative returns, police said on Tuesday, reported news agency PTI.
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The police have registered a case against five persons in this connection.
The accused last month contacted the victim, a resident of Kalamboli area who runs a logistics business, and lured him to invest in forex and cryptocurrency trading, promising high returns, Navi Mumbai cyber cell's senior police inspector Gajanan Kadam said, reported PTI.
The Navi Mumbai businessman subsequently invested Rs 64,70,024 through various links provided by the accused, reported PTI.
When the Navi Mumbai businessman sought returns on his investment, the accused initially gave evasive replies. After the victim's persistent follow-up, the accused returned only Rs 4,46,878 to him and later became unresponsive, the official said, reported PTI.
Based on the victim's complaint, the cyber cell police on Monday registered a case against five persons under sections 419 (cheating by personation) and 420 (cheating) of the Indian Penal Code, the official said, reported PTI.
He said people unfamiliar with the complex financial instruments like forex and cryptocurrency are advised to exercise caution and thoroughly research any investment platform or person before committing funds.
Lucrative guarantees of high returns should raise suspicion, the official said, adding that people should seek advice from qualified professionals before making investment decisions and avoid investing through unreliable links or unfamiliar websites, reported PTI.
In another incident, police have registered a case against nine persons for allegedly cheating a 42-year-old woman from Navi Mumbai and other persons of Rs 2.97 crore after promising them high returns in various investment schemes, an official said on Monday, reported PTI.
The accused invested funds of the woman and other victims in shares and also to acquire movable and immovable properties over the last three years, the official from Sanpada police station said, reported PTI.
But, the accused failed to provide any gains or return the invested money to the victims, he said.
The woman, who is a resident of Seawoods area in Navi Mumbai township, filed a complaint with the police on Sunday, reported PTI.
Based on it, the police registered a case against nine persons under relevant provisions of the Indian Penal Code, the Prize Chits and Money Circulation Schemes (Banning) Act, the Banning of Unregulated Deposit Schemes Act and the Maharashtra Protection of Interest of Depositors (In Financial Establishments) Act, reported PTI.
(With inputs from PTI)
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