Thane Mechanical Engineer Defrauded of Over Rs 3 Crore in Sophisticated Online Trading Scam
In a distressing case of cyber fraud, a 46-year-old mechanical engineer residing in Thane has reported being swindled out of a staggering sum exceeding Rs 3 crore. The victim, a resident of the Kasarvadavali area in Maharashtra, fell prey to a deceptive online trading platform that lured him with promises of exceptionally high returns on his investments.
How the Elaborate Scam Unfolded
According to official statements from the Thane cyber police, the engineer was initially contacted by an individual who presented a compelling opportunity for lucrative investments through a specific website. Persuaded by the assurances of substantial profits, the complainant proceeded to invest a total of Rs 3,15,67,954. This financial commitment was made over a period spanning from December 12, 2025, to February 11 of this year.
Sub-Inspector Lahu Rathod from the cyber police station provided detailed insights into the mechanics of the fraud. "The complainant stated that he was initially shown a profit of USD 500,000 on the trading platform, which significantly built his confidence in the entire scheme," Rathod explained. This display of fabricated gains served as a critical psychological tool to deepen the victim's trust and encourage further financial involvement.
The Moment of Realization and Police Action
The situation took a drastic turn when the engineer attempted to withdraw his funds or secure his invested capital. At this juncture, he discovered that his account on the platform had been abruptly blocked, cutting off all access. It was this action that led to the stark realization that he had been systematically cheated.
"However, when he attempted to withdraw or secure his invested amount, his account was blocked and he realized that he had been cheated," Officer Rathod reiterated, highlighting the precise moment the fraud was uncovered.
In response to the formal complaint, the Thane cyber police registered a comprehensive case on Friday. The legal action targets three currently unidentified individuals. The charges have been filed under multiple sections of contemporary Indian law:
- Sections 318(4) and 316(2) of the Bharatiya Nyaya Sanhita, which pertain to cheating and criminal breach of trust, respectively.
- Sections 66(C) and 66(D) of the Information Technology Act, addressing the serious offenses of identity theft and cheating by impersonation through the use of computer resources.
This case underscores the escalating sophistication of online financial scams, where fraudsters exploit digital platforms to execute large-scale deception. The incident serves as a stark warning to potential investors about the critical importance of verifying the legitimacy of online trading portals and exercising extreme caution with unsolicited investment offers that promise unrealistic returns.
The Thane police are actively investigating the matter, aiming to trace the perpetrators and understand the full scope of this fraudulent operation. Authorities urge the public to report any similar suspicious activities to help combat the growing menace of cybercrime in the financial sector.
