Pune Software Engineer Defrauded of Rs 35 Lakh in Elaborate Stock Market Scam
A 39-year-old software engineer working in Hinjewadi, Pune, has fallen victim to a sophisticated financial fraud, losing a staggering sum of Rs 35 lakh to three unidentified individuals. The scam unfolded over a period from July to August last year, with the perpetrators luring the victim with promises of substantial returns on stock market investments.
Police Register Case After Preliminary Investigation
The distressed techie, after realizing he had been duped, approached the Pimpri Chinchwad police to file a formal complaint. Following initial inquiries, the Hinjewadi police officially registered a case on Thursday. Authorities have confirmed that the investigation is now actively underway, focusing on tracking down the three suspects involved in this calculated deception.
Modus Operandi of the Fraudsters
According to a detailed statement from an officer at the Hinjewadi police station, the fraud began in July last year when two of the accused contacted the software engineer via telephone. They presented themselves as investment experts, guaranteeing high profits if he entrusted them with his funds for stock market trading.
The initial phase of the scam involved:
- The duo obtaining sensitive details from the victim's two existing trading accounts.
- They claimed to have invested Rs 10 lakh of his money into the stock market on his behalf.
- Subsequently, they informed the techie that this investment had incurred losses.
"To recover the supposed losses, the fraudsters instructed the victim to open another trading account," the police officer explained. "They then collected his Aadhaar and PAN card details, falsely stating they had successfully opened a demat account in his name."
Escalation of the Financial Deception
Capitalizing on the victim's trust, the two individuals proceeded to siphon an additional Rs 20 lakh from him. This amount was transferred to various bank accounts under their control, effectively disappearing without any genuine investment activity.
The scam took another turn when a third accomplice entered the scene. This individual contacted the complainant, posing as the owner of a stock broking firm. Repeating the same false promises of lucrative returns, he managed to extract a further Rs 5 lakh from the already beleaguered software engineer.
Victim Left in the Lurch as Suspects Vanish
When the techie began persistently following up with the trio to retrieve his money or see the promised profits, all communication abruptly ceased. The suspects stopped answering his calls entirely, leaving him with a total loss of Rs 35 lakh and no recourse but to seek legal intervention.
The Hinjewadi police have registered a formal case under sections related to cheating and criminal breach of trust against the three unidentified men. The investigation aims to uncover their identities, trace the flow of funds, and bring them to justice. This incident serves as a stark warning to individuals about the risks of unsolicited investment offers and the importance of verifying the credentials of anyone offering financial services.
