Pune Housewife Loses Rs 55 Lakh in Elaborate Online Trading Scam
A 31-year-old housewife from Punawale in Pune lost a staggering Rs 55.22 lakh to cybercriminals in a sophisticated online share trading fraud. The scam unfolded between July and September last year, leaving the victim financially devastated.
How the Fraud Unfolded
The woman received an invitation to join an investors' group on a popular mobile messaging app in July. Group members promised her attractive returns on stock market investments and initial public offerings. They provided her with training sessions on share trading to build her confidence.
After gaining her trust, the fraudsters instructed her to download a specific trading application. This app supposedly allowed her to buy shares and monitor her profits in real time. The interface showed impressive gains, creating an illusion of successful investments.
The Money Transfer Trap
"The criminals then began directing her to transfer money to various bank accounts," explained a police officer from Ravet station. "They used the pretext of purchasing shares and IPO allocations to justify these transactions."
The victim followed their instructions diligently, transferring substantial amounts to multiple accounts. Her trading app displayed growing profits, reinforcing her belief in the scheme's legitimacy.
The Withdrawal Blockade
Problems emerged when she attempted to withdraw her supposed earnings. "Whenever she tried to access her money, the scammers invented different excuses," the officer continued. "They claimed technical issues, processing delays, or additional fees were preventing the withdrawal."
Instead of releasing her funds, they convinced her to send more money to resolve these fabricated problems. Between July and September, she transferred Rs 55.22 lakh across various bank accounts, losing everything to the fraudsters.
Police Investigation Progress
The distressed housewife filed a complaint with the Pimpri Chinchwad cyber police in October last year. After conducting preliminary investigations, authorities registered a formal case at Ravet police station this Tuesday.
Police are now examining bank transaction records and digital evidence to identify the perpetrators. They warn citizens to exercise extreme caution with unsolicited investment opportunities promising guaranteed high returns.
This case highlights the growing sophistication of online financial scams targeting inexperienced investors. Authorities emphasize verifying the legitimacy of trading platforms and consulting registered financial advisors before making substantial investments.
