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60-year-old duped of ₹11 lakh by person posing as stock broker

PUNE: A 60-year-old man was duped of 11 lakh by callers who claimed to be stockbrokers in Pune

Published on: Jul 24, 2021, 22:06:15 IST
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PUNE: A 60-year-old man was duped of 11 lakh by callers who claimed to be stockbrokers in Pune.

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The 60-year-old is a resident of Quarter Gate area of Nana Peth in Pune. He received a text message about a trading company called Excellencia Options Online Trading Company and later WhatsApp conversations from one of the alleged executives.

Through multiple transactions, he paid 11,24,434 in the name of stock investment, according to his complaint.

The man was led to believe that his investment has yielded 35 lakh in returns and the company sent text messages mentioning the same to him. Three times, the company paid him 1,12,620. However, it stopped after some time. The man then lodged a police complaint,

A case under Sections 406 (Criminal breach of trust), 419 (personation), 420 (cheating) of Indian Penal Code along with Sections 66(C) and 66(d) of Information Technology Act was registered at Samarth police station. Inspector (crime) Ulhas Kadam of Samarth police station is investigating the case.