Thane man loses more than Rs 47 lakh in share trading fraud   

A 66-year-old man from Maharashtra's Thane district was allegedly duped of more than Rs 47 lakh by cyber fraudsters who lured him into share trading, police said on Saturday.

Based on a complaint, the police on Thursday registered a case against three persons under the Information Technology Act, an official said.

He said a probe is underway into the fraud that occurred between December 2024 and February 2025.

The accused were part of a WhatsApp group and a share trading application, and they contacted the victim and lured him to take up share trading online, promising him lucrative returns.

The official said the victim made payments of Rs 47,01,652 in online transactions to different bank accounts over the last three months.

The man soon realised that he had been cheated when he did not get any returns, and he approached the police.