Nagpur: A 69-year-old businessman from Jaripatka has allegedly lost ₹11.50 lakh to cyber fraudsters who lured him with promises of high returns from share market investments. The Cyber Police have registered a case against two persons and launched an investigation into the online fraud.

The victim, Manohar Ramdas Kevalramani, a resident of Dhanlaxmi Society in Kushinagar, allegedly came in contact with the fraudsters through WhatsApp calls. The accused, identified as Ananya Kulkarni and Gul Techchandani, reportedly persuaded him to invest in the share market, assuring him of substantial profits.

According to the complaint, the fraudsters initially arranged for the victim to receive some returns, thereby building his confidence. Encouraged by the apparent gains, he continued investing larger amounts.

The accused subsequently allegedly convinced him to transfer a total of ₹11.50 lakh from his Bank of Maharashtra account to multiple bank accounts provided by them. However, when the promised returns failed to materialise, the businessman realised that he had been cheated.

The WhatsApp calls were reportedly made in connection with Finsol Pvt Ltd, as mentioned in the complaint.

Based on the victim's complaint, Cyber Police registered an FIR under Sections 318(4), 319(2), 336(3), 340(2) and 61(2) of the Bharatiya Nyaya Sanhita (BNS), along with Sections 66(C) and 66(D) of the Information Technology Act.

Police are investigating the case and attempting to trace the money trail and identify others who may have been involved in the fraud.