56-year-old Thane man duped of ₹88 lakh in a fake stock trading app scam after being lured by a Facebook ad | Representative pic
Thane: A 56-year-old man from Thane, who is a manager in a private company, lost Rs 88 lakh in shares investment fraud. According to the police, the complainant came across an advertisement on Facebook, promising good returns on stock trading, in December 2024.
Upon clicking the link, his phone number got added in a WhatsApp group where members expressed joy over getting high returns, while thanking the expert guidance provided in the group. The man was made to download a bogus trading app.
Subsequently, he started pumping money as the app showed fake earnings rising to Rs 2.79 crore. However, when he tried to withdraw the same, he was asked to pay Rs 40 lakh more, said the police.
