Pune Cyber Scam: Three Victims Lose Rs 2.87 Crore in Online Share Trading Fraud
In a series of sophisticated cyber frauds, three residents of Pune have been collectively cheated of Rs 2.87 crore in separate online share trading scams. The incidents highlight the growing threat of investment frauds orchestrated through digital platforms.
Software Engineer Duped of Rs 1.23 Crore
A 42-year-old software engineer from Bavdhan filed a complaint with the Bavdhan police on Friday, revealing that online fraudsters swindled him of Rs 1.23 crore between December 2025 and January. The scammers lured him with promises of over 500% returns on investments.
According to police reports, the victim's mobile number was added to a group on a popular messaging application. In this group, fraudsters consistently discussed impressive returns earned through online share trading. Group members frequently expressed gratitude to the group administrator for providing lucrative trading tips.
Enticed by these conversations, the software engineer contacted the group admin, who guaranteed him 500% returns on investments in online shares. The fraudsters then sent him a link to download a share trading application, which the victim installed on his device.
Initially, the victim traded shares of lower value. However, the group admin soon approached him, encouraging investment in high-value shares and Initial Public Offerings (IPOs). The engineer agreed, and the fraudster promised assistance in purchasing these premium shares.
The suspect then shared six different bank accounts with the victim, instructing him to transfer money to these accounts so the fraudster could buy high-value shares on his behalf. The victim complied with these instructions.
Within days, the trading application displayed a profit exceeding Rs 1 crore. When the victim attempted to sell the shares to realize this profit, the fraudsters repeatedly demanded additional payments to facilitate the transaction. This persistent demand for more money eventually led the victim to realize he had been cheated.
Automobile Company Manager Loses Rs 64.4 Lakh
In a similar case, a manager from an automobile company in Chinchwad filed a complaint with the Pimpri-Chinchwad cyber police. He reported being defrauded of Rs 64.4 lakh by online scamsters who promised substantial returns on investments in online share trading.
Software Company Manager Cheated of Rs 1 Crore
Additionally, a manager working with a software company, residing in Wakad, lodged a complaint with the cyber police. He stated that online fraudsters cheated him of Rs 1 crore by offering attractive returns on share trading investments.
Police Action and Recovery Efforts
Senior Inspector Ravikiran Nale of the Pimpri-Chinchwad cyber police station provided details on the investigation. "We managed to freeze Rs 40 lakh out of the Rs 1 crore involved in one case. We also succeeded in freezing over Rs 10 lakh in the Rs 64.4 lakh share-trading fraud case," Nale stated.
These cases underscore the critical need for public awareness regarding online investment scams. Authorities urge citizens to exercise extreme caution when approached with promises of unrealistically high returns and to verify the legitimacy of trading platforms before transferring funds.
