Overview
- Borivali police arrested Bengaluru-based Rajat Amar Chandra Jain, 39, for allegedly cheating a private firm of Rs 36 lakh on the pretext of selling unlisted NSE shares.
- Investigators say the firm transferred Rs 95 lakh in May after Jain offered 5,000 unlisted shares at Rs 1,900 each, he later returned Rs 59 lakh and allegedly kept the rest.
- During a Bengaluru meeting, Jain paid Rs 54 lakh on the spot and Rs 5 lakh on June 2, then stopped responding and allegedly issued threats when repayment was pursued.
- A case of cheating and criminal breach of trust has been registered, and Borivali police are tracing the diverted money and checking for additional victims of a similar modus operandi.
- In a separate case, Thane Cyber Police registered an online trading fraud after a 48-year-old man lost about Rs 3.96 crore to WhatsApp-linked recruiters, with funds moved through multiple bank accounts and a probe underway.