A 67-year-old resident of Dehugaon in Pune has lost his entire retirement fund of Rs 17.86 lakh to cybercriminals who promised high returns on share trading investments. The incident occurred between March and April 8 this year, when the elderly man transferred the amount to multiple bank accounts provided by the fraudsters.
How the Scam Unfolded
According to the Dehu Road police, the complainant was a private company employee in Chakan MIDC who wanted to invest his savings in the stock market after retirement. Last month, he received a call from a woman asking if he was interested in stock market investments. He agreed, and was added to a group of investors on a mobile messaging app. He was also instructed to download a specific app to make investments and monitor profits.
Lured by Fake Trading Experience
Days later, another woman contacted the victim, sharing her trading experience and the profits she allegedly earned through the app. She gained his confidence and convinced him to invest. Trusting her, the senior citizen transferred Rs 17.86 lakh to different bank accounts until April 8.
Realization and Police Complaint
When the victim tried to withdraw his money, the fraudsters demanded additional transfers. Realizing he had been duped, he stopped responding and filed an online complaint. After preliminary investigations, the Dehu Road police registered a case on Saturday.
An officer stated that the complainant realized the fraud when he was asked for more money. The police are now investigating the case and tracing the bank accounts involved.
