Navi Mumbai Police Bust Multi-Crore Fake Investment Scam
A fake call centre in Navi Mumbai defrauded people of over Rs 1 crore by promising high stock market returns. Two individuals were arrested in this regard. The scam involved contacting people through WhatsApp and phone calls, persuading them to invest in intraday and equity trading.
- Country:
- India
In a major bust, Navi Mumbai police have uncovered a fake call centre operation that defrauded unsuspecting investors of over Rs 1 crore by promising substantial returns through share market trading.
Following a strategic tip-off, the police's financial intelligence and cyber units executed a raid on March 12 in the Mahape industrial area, uncovering 22 young individuals engaged in WhatsApp and phone communications to lure potential victims.
Two arrests have been made while another suspect remains at large. Investigations reveal links to multiple cyber fraud complaints across the country, reinforcing the magnitude of the scam.
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