Yerawada resident cheated of ₹19.50 lakh in share trading fraud

Yerawada police station incharge Ravindra Shelke is investigating the case. No arrest has been made so far

A fifty-five-year-old resident of Yerawada has lodged a police complaint stating that he was cheated of ₹19.50 lakh with promise of big returns from stock trading between January 19, 2024 and February 20, 2024.

The police have invoked BNS Sections 420 and 419, and Section 66 D of the Information Technology Act against the accused. (REPRESENTATIVE PHOTO)

The accused contacted the victim on mobile and lured him to invest in shares promising higher returns. However, when the complainant asked the accused to return his invested money with added profit, the latter did not respond and he realised that he was duped.

The police have invoked BNS Sections 420 and 419, and Section 66 D of the Information Technology Act against the accused. Yerawada police station incharge Ravindra Shelke is investigating the case. No arrest has been made so far.