Thane man loses Rs 38 lakh in share-trading scam, case registered

Thane: A 40-year-old man from Maharashtra’s Thane city lost nearly Rs 38 lakh in a share-trading scam, an official said on Friday.

In his complaint to the Shil-Daighar police, the man said he was associated with a share-trading platform between February and March.

The man, who works for an aviation company, said he invested some money and saw his profits rise to Rs 94 lakh. When he tried to withdraw the profits, he was told to deposit a certain sum with the company.

In all, he shelled out Rs 37.7 lakh, the official said. However, those communicating with the complainant stopped responding after receiving the money.

Realising that he had been duped, the man approached the police, the official said, adding that a case was registered on Thursday.