A 48-year-old businessman - a coaching class owner in Maharashtra's Thane district - was cheated of more than Rs 1.88 crore in a share trading scam that started with the membership of a WhatsApp group, police said today.
As per the complainant, an unidentified person added him to the WhatsApp group 'STOCK Vanguard (F)' in March, said an official.
The WhatsApp group had 170 members and stock tips as well as advice about share trading used to be posted regularly, he told police.
The complainant found the advice trustworthy and invested money in the recommended shares, following which he was added to another group, 'STOCK-Vanguard-VIP', the official said.
Three persons, who identified themselves as Isha, Divya, and Raj Rupani, contacted him, showed him some kind of 'SEBI certificate' to gain his trust, and told him that he could make huge profits by investing through an app called CINVEN/IC SERVICES, the complainant said.
He invested more than Rs 1.88 crore, but when he demanded his money back, there was no response, he claimed.
A case of cheating under Indian Penal Code section 420 (cheating) was registered at Vitthalwadi police station but no arrests have been made yet, officials said.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Featured Video Of The Day
Video Emerges Of Mohali Building Collapse, Many Feared Trapped For 17 Hours
BJP MLC's Uncle Kidnapped From Pune Found Murdered Hours Later: Cops Poll Body Changes Maharashtra Police Chief After Opposition Alleges Bias Maharashtra Polls: Rs 86.50 Lakh In Cash Recovered From Car In Mumbai Is Safe Car Enough? Volvo Crash That Killed CEO, Family Sparks Big Question "Nothing Short Of Nightmare": Woman Misses Life Event, Slams Air India Snack Food Epigamia Founder Rohan Mirchandani Dies Of Cardiac Arrest At 41 Watch: Pak Girl Selling Snacks Speaks Flawless English, Impresses Internet Key Challenges Gen Z Students Face Abroad And How to Overcome Them Rahul Gandhi's "Family Lunch" At Iconic Delhi Restaurant Track Latest News Live on NDTV.com and get news updates from India and around the world.