In a stark warning for online investors, ten residents of Pune have been collectively defrauded of more than ₹2 crore in a series of sophisticated online share-trading scams. The victims, lured by promises of exceptionally high returns, transferred large sums to cyber criminals through fraudulent investment applications.
Army Man Loses ₹52 Lakh After Mortgaging Gold
One of the most significant cases involves a 33-year-old Army man from Kharadi. According to a complaint lodged with the Pune cyber police, he joined a group of investors on a mobile messenger app in November. The group instructed him to download a specific application to make investments and monitor his profits.
The victim transferred a staggering ₹52.44 lakh to various bank accounts between November 19 and December 17. To raise this capital, he reportedly mortgaged his gold jewellery and took loans. The app displayed impressive paper profits, showing he had earned ₹3.53 crore. However, when he attempted to withdraw his funds, the fraudsters demanded an additional ₹15 lakh.
This demand raised his suspicions. He contacted another member of the group, who revealed the entire operation was fraudulent. The victim then immediately approached the cyber police to file a formal complaint.
Medical Practitioner and Other Victims Duped
A similar fate befell a 52-year-old medical practitioner from Manjari. Between October and December, he lost ₹34.35 lakh to cyber criminals. The fraudulent app he used showed a profit of ₹1.55 crore on his investments. His ordeal also ended when crooks demanded more money for withdrawal, leading him to the Hadapsar police.
In Kondhwa, a 49-year-old resident was cheated of ₹28.2 lakh. He first came into contact with the fraudsters in August via a social media platform and transferred the money between September and October.
Seven other residents from areas including Mundhwa, Chandannagar, Kharadi, Vishrantwadi, and Kondhve-Dhavade also fell victim to similar schemes. In total, ten separate complaints regarding online share frauds were registered at different Pune police stations on a single Thursday, with the cumulative loss exceeding the ₹2 crore mark.
Police Urge Caution Despite Awareness Drives
An officer from the Cyber police station expressed concern over the persistent success of these scams. "People are falling prey to cybercrooks' tricks despite repeated awareness drives," the officer stated. The police have been actively visiting housing societies and companies to educate the public about cyber frauds, with a special focus on share market scams.
The modus operandi remains consistent: fraudsters use social media or messaging apps to form groups, promote fake trading platforms with guaranteed high returns, and then disappear after collecting large investments. The police advise citizens to only use SEBI-registered platforms for trading and to be extremely wary of unsolicited investment advice promising unrealistic profits.
