A Calcuttan, lured by cheats into investing in what he thought were stocks, was duped out of ₹1.78 crore, police said.

Three persons have been arrested in this connection, the police said.

The cheats allegedly pretended to be providing him guidance in dealing with stocks and equity.

According to the police, the complainant, a resident of Haridevpur, was approached on WhatsApp by an unknown number to invest in stocks and equity. He was also offered a chance to attend classes that would guide him in investing his funds.

He was asked to download a mobile phone application through which he was to trade in stocks, the police said.

“After a few days, when he had already invested ₹1.78 crore, he realised that he had been cheated,” said an officer of the cyber cell of Kolkata Police.

Based on his complaint lodged in December, the police arrested three persons.

The three have been identified as Alamgir Molla of Tehatta in Nadia, Minjarul Molla, also from Tehatta, and Suman Mandi from Kalyani in Nadia.

The police said one laptop, two mobile phones, several debit and credit cards, SIM cards, chequebooks and passbooks of different banks were seized from the trio.