Thane, Nov 4 The cyber cell of Thane Police arrested two persons for allegedly cheating a 70-year-old man of around Rs 1.30 crore by promising high returns through online share trading, police said on Wednesday.
The fraudsters contacted the complainant via WhatsApp and lured him with promises of lucrative returns and high profits through share trading investments, according to a release issued by the cyber cell of Thane crime branch.
The victim was subsequently persuaded to download a specific trading application and invest money, leading to a total financial fraud of Rs 1,29,96,593, the release said.
During the investigation, police traced bank transactions linked to an account at a small finance bank in Navi Mumbai, it said.
A police team tracked down two suspects, identified as Pradeep Jaiswal and Swaraj Sharma, and arrested them on October 30.
Police seized cheque books, passbooks of various banks, 10 ATM cards, 34 mobile phones, multiple SIM cards, and other material from the duo.
(PTI News)
