Thane, Aug 14 (PTI) Police have registered a case against four persons for allegedly defrauding a Thane resident of Rs 8.43 lakh under the pretext of high returns on foreign exchange and cryptocurrency investments, an official said on Friday.
The complainant, a resident of the Ambernath area, told the police that he lost the money between December 2023 and July 2025.
Police said four individuals had approached the complainant with promises of lucrative monthly returns ranging between 5 per cent and 10 per cent on forex and cryptocurrency trading.
To gain his trust, the fraudsters instructed the complainant to monitor his investment dashboards across several bogus websites. These portals displayed fabricated profit margins in USD.
Driven by the displayed gains, he transferred a total of Rs 11.54 lakh. To keep the scheme going and mask the fraud, the accused initially routed Rs 3.11 lakh to his account as partial returns.
After failing to recover his remaining funds or secure the promised profits, the complainant realised that he had been duped of Rs 8.43 lakh, an official said.
Following an official grievance submitted on the National Cyber Crime Reporting Portal, the Ambernath West Police registered an FIR on August 11 against four persons, he said.
Police are currently tracking the financial transactions, mobile numbers, and domain details associated with the fraudulent accounts, the official added. PTI COR NR
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