Navi Mumbai: The Navi Mumbai Cyber Police have arrested seven people involved in a large-scale online trading fraud that duped investors of over Rs 1.07 crore, and have seized 118 bank accounts linked to the scam across various states.

Fake Trading Apps Used to Lure Investors

According to the police, between September 2 and October 8, the accused lured victims with promises of high profits from investments in share market trading. They gained the complainant’s trust and convinced them to transfer money into multiple bank accounts.

Through a fake trading application, the accused showed inflated virtual profits, prompting further investments before cutting off contact and disappearing with the funds.

Case Registered Under BNS and IT Act

Based on the complaint, the Navi Mumbai Cyber Pol

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