Thane Man Duped Out Of Rs 1.17 Crore In Online Investment Fraud

A 39-year-old Thane resident was allegedly cheated of over Rs 1.17 crore by online fraudsters who lured him into investing in virtual stores on platforms like Facebook and TikTok, police said on Wednesday.

Based on his complaint, a case was registered at the Vartak Nagar police station on Tuesday against four persons, including three women, an official said.

According to the police, the complainant was added to a Facebook group, and its members persuaded him to open a “Facebook Shop” and a “TikTok Store” through specific links provided to him. He was allegedly promised a 15 per cent commission on every item sold.

“Initially, to gain his trust, the accused credited a small profit into his digital wallet after he invested Rs 25,000,” the official said.

Lured by high returns, the man subsequently invested Rs 1.17 crore between October and December last year.

The fraud came to light when the complainant tried to withdraw his accumulated profits. The accused blocked the withdrawal, claiming that his store's “rating” had dropped due to “harassment” and demanded an additional Rs 31.15 lakh to restore it, the official said.

“We are tracking the mobile numbers and the digital footprints of the transactions,” he added. 

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