trading app scam: 4 held for tricking victims
NAVI MUMBAI, Jan. 30 -- The Navi Mumbai cyber police have arrested four persons in two separate online investment scams in which victims were cheated of over Rs.4.56 crore.
In the first case, a 47-year-old man was arrested for allegedly duping a 68-year-old investor of Rs.4 crore by promising high returns through gold trading. The fraud took place between February and November 2025 after the accused contacted the victim via Telegram. To gain trust, the victim was initially shown profits on a Rs.25,000 investment and allowed to withdraw Rs.75,000, after which he was persuaded to invest larger sums. An FIR was registered on January 22, 2026, and the accused was arrested from Thane on January 28. Police said he is linked to cybercrimes across 17 states.
In the second case, three persons were arrested for a Rs.56.27-lakh share market and forex trading scam carried out between August and November 2025 using a fake trading app that displayed fabricated profits. The probe revealed the use of multiple bank accounts and SIM cards, with the accused linked to cybercrimes in eight states....
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