Pune: A youth was duped of Rs 26 lakh by cyber thieves on the pretext of a good return on investment in the stock market.

The incident took place recently in Bhagyodaynagar area of Kondhwa.

A 37-year-old man has lodged a complaint with the Kondhwa police station.

According to police, the cyber thieves contacted the youth on his mobile phone in September. He promised a good return on investment in the stock market.

Therefore, the youth deposited money in the accounts of cyber thieves from time to time. The thieves initially also gave a refund to the youth. But in the last four months, there has been no return on investment of Rs 26 lakh.

After being duped, the youth lodged a police complaint. Further investigation is being carried out by Police Inspector (Crime) Suraj Bendre.