Online Fraud in Mumbai: Two School Dropouts Cheat Andheri-Based Professor of Rs 60 Lakh After Luring Victim To Invest in Share-Trading Scheme, Arrested
Mumbai, March 5: The Mumbai police recently arrested two school dropouts for allegedly cheating a city-based professor of Rs 60.35 lakh in an online fraud. Police officials said that the victim, a 42-year-old professor from Andheri was lured to invest in an online share-trading scheme on the promise of high returns.
The arrested accused have been identified as Arbaaz Ahmed Shaikh (21) and Saraffuddin Shaikh (28). According to a report in the Times of India, both the accused were arrested from Kharghar. The two school dropouts were arrested after the police managed to track them with the help of the bank account used in the online fraud. Mumbai Fraud News: Borivali Couple Duped of Rs 70.5 Lakh by Fake Forex Traders.
An officer said that the account to which the funds were transferred had been frozen. The officer from Oshiwara police station also said that they used technical assistance to locate Arbaaz who was traced to a mutton shop. Post his arrest, Arbaaz led the cops to his aide. He said that the professor had invested her earnings in the hope of getting higher returns.
The victim had also borrowed money from relatives and friends to invest in the trading. An officer privy to the case said that the woman realised she was cheated when she tried to withdraw the money she had invested in the share-trading scheme. Cyber Fraud in Mumbai: 73-Year-Old Businessman Loses Rs 3.61 Crore in Cyber Investment Fraud; One Held.
In a similar incident in Navi Mumbai, the police registered a case against four persons for cheating a financial analyst of Rs 29 lakh by luring him to take up share trading. “The complainant has alleged that the accused approached him through a website and lured him to invest in share trading. He made a total payment of Rs 29 lakh between January 18 and February 29,” a police officer said.
(The above story first appeared on Today News 24 on Mar 05, 2024 05:37 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
