Navi Mumbai: A 61-year-old Vashi resident was allegedly duped of nearly ₹1.5 crore by cyber fraudsters who lured him into investing in a fake online share trading platform by promising unusually high returns. The Navi Mumbai Cyber Police have registered a case in connection with the fraud.Vashi man loses ₹1.5 crore in fake online trading scamThe complainant, a resident of Sector 30A in Vashi, told police that he was added to a WhatsApp group named Laxmi Capital 20191 VIP Group, where the administrators projected themselves as investment experts and encouraged members to invest in stock market trading schemes.According to the FIR, the victim was contacted by individuals identifying themselves as Manisha Shaha and Sumit Sharma, along with other unidentified associates. The accused allegedly persuaded him to invest through a website, claiming that the platform offered substantial returns within a short period.Police said the fraud took place between April 2 and June 4, during which the victim transferred nearly ₹1.5 crore to multiple bank accounts provided by the accused under the name of Lakshmi Capital Investments.After the promised returns failed to materialise and he realised he had been cheated, the victim approached the Navi Mumbai Cyber Police. An FIR was registered on June 26 under sections 318(4)(cheating), 319(2)(cheating by personation), and 3(5)(common intention) of the Bharatiya Nyaya Sanhita and Section 66(D)(cheating by personation using a computer resource) of the Information Technology Act.Senior Police Inspector Vishal Patil of the Navi Mumbai Cyber Police urged citizens to verify the credentials of investment firms and remain cautious of WhatsApp groups, social media advertisements and websites promising guaranteed or exceptionally high returns.