India, June 24 -- A 43-year-old scrap dealer from Navi Mumbai was allegedly duped of Rs.2.28 crore by fraudsters posing as stock market investment advisors, who lured him through social media and a WhatsApp group with promises of high returns.

According to the police, the complainant was cheated of Rs.2.28 crore between March 9 and April 28, 2025. An FIR was registered on June 22, 2026, 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.

The complainant told police that he came across a promotional video of ASK Investment Management on Facebook on March 9, 2025. So...