Man falls for ‘high’ returns on investments, loses Rs 45 lakh; two held

Thane: The Navi Mumbai police have arrested two persons for allegedly cheating a man of nearly Rs 45 lakh after luring him with “high returns on investments”, an official said on Friday.

Kamote residents Nilesh Arun Kingawale (30) and Sanjay Rambhau Patil (48) allegedly committed the crime between February 5 and March 3.

The complainant was enticed with a sham share trading application promising lucrative returns and made to transfer a total of Rs 44.7 lakh to different bank accounts.

The man approached the police on March 7 after he did not get any money in return and the accused became evasive, said Gajanan Kadam, senior inspector of cyber crime police station.

The police recently arrested the duo and recovered many chequebooks, debit cards, four mobile phones and ten SIM cards from Patil’s premises, he said, adding that the two are involved in about ten cybercrimes.

Many bank accounts with Rs 18.51 lakh linked to the fraud have been frozen, he said.