Thane, Aug 16 (PTI) A Navi Mumbai-based man involved in stock market trading lost more than Rs 36 lakh as two persons allegedly lured him into investing in cryptocurrency by promising high returns, police said on Friday.
The accused contacted the victim, a resident of Kharghar, in April this year, stating that they were representatives of a financial institution, and urged him to get training in cryptocurrency trading. After the victim agreed, the accused started the training sessions, an official said.
However, they later siphoned off Rs 36,80,151 in several instalments after linking him to different trading platforms. When the victim sought his invested money back and demanded returns on investment, the accused did not respond, he said.
The man then approached the police and based on his complaint, the police on Thursday registered a case under sections 316 (2) (criminal breach of trust), 318(4) (cheating) of the Bharatiya Nyaya Sanhita (BNS) and also Information Technology (IT) Act, the official at the cyber police station said.
A probe into the crime was underway, he added.