Man booked for fraud

Multiple cases of investment fraud have emerged in India, highlighting the growing prevalence of scams targeting individuals through promises of high returns. In Pune, SG Traders is accused of cheating 261 investors out of ₹26.41 crore under the pretext of offering 5% monthly returns, with the police invoking IPC sections for cheating and investor protection laws. In another case, a man in Sangareddy lost ₹2.43 crore to cyber fraudsters who misled him into investing through a deceptive mobile app. Additionally, a mutual fund advisor in Mumbai allegedly defrauded six individuals of ₹86.46 lakh by promising exorbitant profits from foreign investments, leading to a police investigation. Other reports include a lawyer losing ₹93 lakh in a WhatsApp scam and a former banker being cheated of ₹17.25 lakh through an online trading group. Authorities are urging vigilance as such scams continue to proliferate, particularly during tax season.