High Return Scam: Thane Man Loses Rs 1.17 Crore in Facebook and TikTok Investment Fraud, Four Booked

A 39-year-old man from Thane was allegedly cheated of over Rs 1.17 crore in an online investment scam involving fake Facebook and TikTok stores. Lured by promises of 15 per cent commission, he first invested Rs 25,000 and received a small profit.

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Man Duped In Online Investment Scheme

A 39-year-old resident of Thane has allegedly been cheated of more than Rs 1.17 crore by online fraudsters who promised high returns through virtual stores on social media platforms. The case came to light after the victim approached the police with a complaint, according to News Agency PTI.

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Case Registered At Vartak Nagar Police Station

Based on the complaint, a case was registered on Tuesday at the Vartak Nagar police station. Police have named four accused in the FIR, including three women. An investigation has been launched to trace those involved.

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How The Fraud Began

According to police officials, the victim was added to a Facebook group where members discussed online business opportunities. He was persuaded to open a “Facebook Shop” and a “TikTok Store” using specific links shared in the group.

The accused allegedly promised him a 15 per cent commission on every product sold through these virtual stores, PTI reported.

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Small Profit To Build Trust

To gain his confidence, the fraudsters first asked him to invest Rs 25,000. Soon after, a small profit was credited to his digital wallet. This made the scheme appear genuine and encouraged him to invest more money.

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Over Rs 1.17 Crore Invested

Believing that the business was growing, the man continued investing large sums between October and December last year. In total, he transferred more than Rs 1.17 crore to accounts linked to the scheme.

The fraud was discovered when he tried to withdraw his profits. The accused allegedly blocked the withdrawal and claimed that his store’s rating had dropped due to “harassment”. They demanded an additional Rs 31.15 lakh to restore the rating.

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Police Tracking Digital Footprints

Police said they are tracing the mobile numbers used in the fraud and analysing digital transaction trails. Officials are also examining bank accounts and online links connected to the case.

Authorities have urged citizens to be cautious about online investment schemes that promise unusually high returns.