I couldn’t locate any recent news reports about an MMRDA official losing ₹1.7 crore in share trading. However, there was an incident in May 2024 where a 48-year-old man from Navi Mumbai was allegedly duped of ₹1.07 crore in a share trading fraud. The fraudsters contacted the victim between February and May 2024, promising lucrative returns, and convinced him to deposit money into various bank accounts. When he sought returns and a refund, they failed to respond, leading him to file a complaint with the Navi Mumbai cyber police .

Regarding the Mumbai Metropolitan Region Development Authority (MMRDA), there have been reports of significant financial losses related to their projects. For instance, the Mumbai Monorail was projected to incur losses of ₹542 crore in the financial year 2023-24. This includes ₹252 crore in revenue expenditure and ₹290.5 crore in capital expenditure . Additionally, Metro lines 2A and 7 reported losses of ₹280 crore for the year 2022-23 .​

If you have more specific details or context about the incident involving the MMRDA official, please provide them, and I’ll be glad to assist further.

Sources