Pune Resident Defrauded of Rs 37.25 Lakh in Elaborate Stock Market Scam
In a distressing case of cybercrime, a resident of Sangvi in Pune has been duped of a staggering Rs 37.25 lakh by fraudsters who lured him with promises of 30% returns on stock market investments. The incident, which unfolded between January and March, has prompted the Sangvi police to register a case and launch a thorough investigation.
How the Scam Unfolded
According to police officials, the victim, a private company employee, was initially contacted through a social media platform in January. A woman, claiming to represent a securities company, reached out via a video call and assured him of substantial profits from investments in the stock market. She shared two links with the victim, instructing him to transfer funds using these links.
Between January and March 30, the victim transferred a total of Rs 37.25 lakh to the fraudsters. He was later informed that his investments had generated a profit of Rs 1.81 crore, creating an illusion of success. However, when he attempted to withdraw the money, he found himself unable to access any funds, leading him to realize he had been scammed.
Police Investigation Underway
After the victim filed an online complaint, the Sangvi police conducted preliminary investigations and registered a formal case on Tuesday. An officer from the Sangvi police station stated, "We have sought the details of the transactions from his bank. Our investigations are ongoing." The authorities are working to trace the cybercrooks and recover the lost funds.
This incident highlights the growing threat of online investment scams, where fraudsters exploit social media platforms to target unsuspecting individuals. Police urge the public to exercise caution and verify the legitimacy of investment offers before transferring any money.
