A businessman was cheated of Rs 5 crore by online fraudsters who promised him high return on investments, a Thane police official said on Sunday.
The Mumbai-based importer was approached by the accused, who claimed to be from a US firm, the official said.
"They asked him to invest in multiple currencies on a fraudulent online platform. Between April and October this year, he invested Rs 5 crore. He never got any of the promised returns, after which he approached Naupada police station on Friday," the official said.
The Economic Offences Wing of Thane police is probing the case and efforts are on to identify and nab the accused, he added. -- PTI