India, Jan. 30 -- The Navi Mumbai cyber police have arrested four accused in connection with two separate online investment scams in which victims were defrauded of Rs.4 crore in a "gold trading" hoax and Rs.56.27 lakh in a "share and forex trading" one.

The police arrested Kalpesh Kamalakar Shitap (47) for allegedly cheating an investor of Rs.4 crore by luring him with promises of high returns through investing in gold trading. The fraud was committed between February 3 and November 22, 2025, during which the accused gained the complainant's confidence and induced him to transfer money into multiple bank accounts.

A case was registered on January 22, 2026 under relevant sections of the Bharatiya Nyaya Sanhita and Section 66 (D) of the ...