In a stark warning for online investors, ten residents of Pune have been collectively defrauded of more than Rs 2 crore in a series of sophisticated online share-trading scams. The victims, lured by promises of extravagant returns, fell prey to cyber criminals operating through social media and messaging platforms.
Army Officer, Doctor Among Major Victims
The Pune cyber police station registered a complaint from a 33-year-old Army man residing in Kharadi. According to officials, the victim joined an investors' group on a mobile messenger app in November. He was then instructed to download a specific application to make investments and monitor his supposed profits.
Between November 19 and December 17, the victim transferred a staggering Rs 52.44 lakh to various bank accounts provided by the fraudsters. In a desperate bid to invest more, he even mortgaged his gold jewellery and took loans. The app displayed a massive paper profit of Rs 3.53 crore, fueling his belief in the scheme.
The scam unraveled when he attempted to withdraw his funds. "The crooks demanded an additional Rs 15 lakh," an officer stated. This raised his suspicions, prompting him to contact another member of the group, who revealed the entire operation was fraudulent. The victim then approached the cyber police.
Fake Apps Show Fake Profits, Demand Real Money
In a disturbingly similar case, a 52-year-old medical practitioner from Manjari was duped of Rs 34.35 lakh between October and December. The fraudulent application he downloaded showed an impressive profit of Rs 1.55 crore on his investments. His realization of the scam came only when the criminals demanded more money to process the withdrawal of his fictional gains.
Another resident of Kondhwa, aged 49, lost Rs 28.2 lakh after connecting with the fraudsters on a social media platform in August. He made transfers to different accounts between September and October before the deception was uncovered.
Police Highlight Persistent Threat Despite Awareness
These three cases were among a total of ten separate complaints regarding online share trading frauds registered across various Pune police stations on a single Thursday. The other victims hailed from areas including Mundhwa, Chandannagar, Kharadi, Vishrantwadi, and Kondhve-Dhavade, with the cumulative fraud amount crossing the Rs 2 crore mark.
A senior officer from the Cyber police station expressed concern, stating, "People are falling prey to cybercrooks' tricks despite our repeated awareness drives." The police have been actively conducting sessions at housing societies and companies to educate the public, specifically about share market frauds. The modus operandi consistently involves fake trading apps that display inflated profits to build trust, only to demand more payments or vanish when withdrawal is attempted.
The series of incidents serves as a critical reminder for investors to exercise extreme caution, verify the authenticity of trading platforms through official regulatory bodies, and never transfer money to unknown accounts based on promises of guaranteed high returns.
