Ulhasnagar: Two separate online investment fraud cases involving substantial financial losses have been registered at Hill Line Police Station in Ulhasnagar. In both incidents, the victims were allegedly lured by fraudsters promising attractive returns on their investments.

In the first case, Avesh Iqbal Shaikh, 36, a resident of Hajimangalawadi, was reportedly contacted through unknown WhatsApp numbers and added to a group. The accused allegedly persuaded him to invest money by promising lucrative returns. Trusting their assurances, Shaikh transferred a total of Rs 6,91,900 through various transactions using RTGS, NEFT, IMPS and UPI. The money was sent to multiple bank accounts, following which he allegedly realised that he had been cheated.

In a separate incident, Naresh Ravindra Parmar, 37, a resident of Ulhasnagar, was allegedly targeted by a fraudster posing as a representative of Mishra Tour and Travels, Goregaon. The accused reportedly offered attractive returns if Parmar invested in the company.

Believing the offer to be genuine, Parmar transferred Rs 15 lakh from his Axis Bank account. However, he allegedly received neither the promised returns nor the money he had invested, resulting in a significant financial loss.

Following complaints in both cases, Hill Line Police registered offences under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act.

Police have launched further investigations into both incidents to identify the accused and trace the transferred funds.

The cases highlight the risks associated with unsolicited online investment offers and the importance of verifying the authenticity of companies and investment schemes before transferring money.