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Man from Thane district loses Rs 94 lakh in 'share trading'

The man invested Rs 93.6 lakh in all but did not get any money in return. Realising he had been tricked, the man filed a police complaint.
Last Updated : 19 June 2024, 04:49 IST

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Thane: A 48-year-old man from Maharashtra’s Thane district lost nearly Rs 94 lakh after falling prey to a share trading scam, an official said on Wednesday.

The man from the Kalyan area was cheated between April 9 and May 21.

In his complaint, the man said he came across a WhatsApp group named ‘The Value Team A 13’ where many members posed as “experts and dished out tips” on making money through the share market.

Police said the “experts” induced the complaint to invest using links and applications provided by them.

The man invested Rs 93.6 lakh in all but did not get any money in return. Realising he had been tricked, the man filed a police complaint.

“We have started an investigation into the matter,” said the station house officer at Khadakpada police station. “Our teams are working to gather evidence and track down the accused,” he added.

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Published 19 June 2024, 04:49 IST

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