Vile Parle cops recover entire 8L two residents lost to share trading fraud | Mumbai News – Times of India

Mumbai: A senior citizen and a young woman shared nothing in common except the unfortunate experience of losing their savings to a share trading fraudonline. Vile police turned their situation around, recovering and returning the entire defrauded sum of Rs 8 lakh to the two within just two months. The senior citizen—a 69-year-old retired insurance official—lives with his wife and son.On Feb 21, he was going through a share trading website when he got a phone call from an international number. Assuring him of the website’s credibility, the caller steered him towards trading on the platform. The senior citizen opened an account in his wife’s name on the website the same day and invested a sum of Rs 18,392. He explained to the caller that he had planned a pilgrimage to the Kumbh Mela and wouldn’t be available thereafter. But he continued receiving phone calls from various international numbers in March.Between Feb 21 and March 7, the senior citizen invested a sum of Rs 6 lakh totally. When he checked his account on the website late on March 7 though, the balance was zero. He was taken aback and gathered that the website was bogus. He contacted the cyber police helpline ‘1930′ and narrated the details of the case. He was provided assistance and on March 18, an FIR was registered by theVile Parle policeunder provisions of Bhartiya Nyaya Sanhita and Information Technology Act.Meanwhile, the 28-year-old woman was duped of Rs 2 lakh in a separate incident of online share trading fraud and approached the cops.A team supervised by DCP Manish Kalwaniya, and comprising senior inspector Rahul Sonawane and assistant inspector Vijay Badekar, contacted the banks where the two victims had transferred their money. The scammers’ accounts were frozen by these banks.The police then pursued with the court to get an order in favour of the two victims. After a nod from the court, the bank transferred back Rs 6 lakh to the senior citizen and Rs 2 lakh to the young woman earlier this week.