A man from Navi Mumbai cheated Rs 1.22 crore under the guise of forex trading.

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A 45-year-old man from Navi Mumbai has been duped of over Rs 1.22 crore in a forex trading scam, police said. Regarding the matter, Senior Inspector Gajanan Kadam said that cyber police have registered a case against five people under cheating and other related provisions.

Thane A 45-year-old man from Navi Mumbai was cheated of over Rs 1.22 crore in a forex trading fraud. Police gave this information on Sunday. Senior Inspector Gajanan Kadam said that based on a complaint, the cyber police on Friday registered a case against five people under Section 420 (cheating) of the Indian Penal Code and other relevant sections and provisions of the Information Technology Act.

He said that the accused allegedly contacted a person resident of Kharghar and asked him to invest in foreign exchange business by luring him with profit. The complainant invested Rs 1.22 crore between November 2023 and March 2024, the official said. He said that in January the complainant came to know that he had Rs 2.54 crore including profit in his forex trading account but was unable to withdraw the money.

The accused asked the person to pay Rs 48 lakh as tax and Rs 17.85 lakh as currency conversion fee and the victim paid that amount but still did not get the actual amount and profit, the officer said. The officer said that no one has been arrested in this case. The investigation is ongoing.

abandonment: Prabhasakshi has not edited this news. This news is published by PTI’s oral feed.



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