A 49-year-old software engineer from Sinhagad Road in Pune has been cheated of Rs 62 lakh by cybercrooks who lured him with promises of handsome returns on online share trading. The Pune cyber police have registered a case of cheating in this regard.
How the scam unfolded
The incident took place between April and May last year. The complainant, who had been waiting for a long time to recover his money, filed a complaint with the police last month. After verification, the police registered a case of cheating.
Senior inspector Swapnali Shinde of Pune cyber police told TOI, "The techie's cellphone number was added to a group on a messaging application where members discussed how the group admin provided tips and they made high returns from online share trading."
The techie was impressed by the profits being discussed and contacted the group admin. The admin then sent him a link to an online mobile application for buying and selling shares. The techie started investing small amounts and bought some shares but failed to make any profit.
Escalation of the fraud
The group admin then contacted the techie and asked him to invest in high-value shares and IPOs, promising to help him purchase such shares. The admin shared six bank accounts with the techie, who transferred a total of Rs 62 lakh into those accounts.
When the techie saw a profit of over Rs 90 lakh and decided to sell the shares, the conmen prevented him from doing so. The investigation is ongoing, and police are working to trace the accused.
