Navi Mumbai loan consultant loses Rs 72 lakh in cryptocurrency fraud

A 56yearold loan consultant from Maharashtras Navi Mumbai township has allegedly been duped of Rs 727 lakh in a cryptocurrency investment fraud police said on Monday reported news agency PTIThe victim a resident of Belapur was lured by some persons into a fraudulent scheme promising high returns on USDT Tether investmentsAfter the accused gained the victims confidence by promising lucrative profits in cryptocurrency trading he deposited large sums into the specified accounts through various websites between May 2024 and December 2025 Later the fraudsters severed all contact a police official said reported PTIAfter the victim realised he had been blocked from the investment platforms he lodged a police complaintThe police registered a case on Sunday against five unidentified persons and three web platforms under sections 3184 cheating 3192 cheating by personation and 35 common intention of the Bharatiya Nyaya Sanhita and provisions of the Information Technology Act the official said reported PTIHR manager loses Rs 36 lakh to online cheats with promise of share trade profitsIn another case an HR manager was cheated of Rs 3674 lakh in an online investment fraud a Navi Mumbai police official said on Sunday reported PTIThe victim was contacted by a woman claiming she represented a SEBIregistered firm and was added to a Whatsapp group with the promise of high returns in share trading the Nerul police station official saidHe downloaded a link given to him by the accused After an initial profit of Rs 50000 he made investments totalling Rs 3674 lakh between August and September 2025 However when he was unable to withdraw his socalled profits the HR manager realised he had been duped Nerul police station inspector Bramhanand Naikwadi said reported PTIA case has been registered against unidentified persons for criminal breach of trust and other offences under Bharatiya Nyaya Sanhita and Information Technology Act he addedBanker cheated of Rs 1986 lakh by man claiming to be construction firm employeeMeanwhile a bank manager in Bhayander in Thane district was cheated of Rs 1986 lakh by a fraudster posing as a highprofile client a police official said on Saturday reported PTIOn January 2 the bank manager received a call from a man who identified himself as Naresh Rajput of one Vinayak Builders and said he was interested in placing a Rs 2 crore fixed deposit and sought assistance with an RTGS transfer the Bhayander police station official informedHe even sent a fake mail that displayed the letterhead of the construction firm following which the victim processed an RTGS of Rs 1986 lakh The fraud was revealed when the real Naresh Rajput came to the branch seeking details of this transaction The victim even made the person talk to the accused who abruptly cut the call the official said reported PTIAn unidentified person has been booked under Bharatiya Nyaya Sanhita for cheating by personation and other offences Bhayander police station inspector Jitendra Kamble saidWith inputs from PTI