Pune Residents Lose Rs 60 Lakh in Online Share Trading Scams: Police Cases Filed
In a series of distressing cybercrimes, three residents of Pune have collectively lost a staggering Rs 60 lakh to separate online share trading frauds. The victims, identified as a pharmacist, a mall manager, and a private company employee, fell prey to sophisticated scams that promised lucrative returns on investments. Police authorities in Sinhagad Road, Kondhwa, and Nanded City have registered separate cases to investigate these incidents, highlighting a growing trend of financial fraud in the region.
Pharmacist Duped of Rs 26.4 Lakh After Joining Investment Group
A 52-year-old pharmacist from Sinhagad Road reported losing Rs 26.4 lakh in the scam. According to his complaint, in October last year, he was added to a group on a mobile messaging platform. The group offered online training sessions on share trading, followed by instructions to download a specific app for making investments and monitoring profits. An officer from the Sinhagad Road police station explained, "The pharmacist initially invested a small amount and could see good profit displayed in the app, which encouraged him to invest more."
The victim then proceeded to transfer money to various bank accounts provided by the fraudsters, totaling Rs 26.4 lakh by December 12 last year. In a desperate move to fund his investments, he even obtained a gold loan of Rs 10 lakh to purchase shares and IPOs. The app showed that he had earned a profit of Rs 33.8 lakh, but the illusion shattered when the scammers continued to demand more money under different pretexts. The officer added, "He realized he was being duped when the crooks kept asking for additional funds, citing various reasons, and he could not withdraw any money."
Mall Manager Loses Rs 25.3 Lakh in Similar Fraud Scheme
In another case, a 45-year-old manager at a city-based mall lost Rs 25.3 lakh to cybercriminals using the same modus operandi. The fraud began in October last year, with the victim being lured into an online investment group and app. An officer from the Kondhwa police station stated, "The victim transferred Rs 25.3 lakh to different bank accounts as instructed. When he attempted to withdraw his supposed earnings, the crooks demanded more money, prompting him to approach the police." This incident underscores the repetitive nature of such scams, where victims are trapped by false promises of high returns.
Nanded City Resident Falls Victim to Rs 8.50 Lakh Scam
Adding to the tally, a 45-year-old resident of Nanded City lost Rs 8.50 lakh in January this year through an identical fraud method. The case follows the same pattern: involvement in an online group, downloading a trading app, and transferring funds to fraudulent accounts. Police have registered a case in Nanded City, bringing the total losses across the three incidents to Rs 60 lakh.
Key Takeaways from the Pune Cyber Fraud Cases
- Modus Operandi: Fraudsters use mobile messaging groups to offer online training and promote fake trading apps that show inflated profits.
- Financial Impact: Victims are coerced into transferring large sums, often resorting to loans, with total losses reaching lakhs of rupees.
- Police Response: Cases have been filed in multiple police stations across Pune, indicating a coordinated effort to tackle such cybercrimes.
- Public Awareness: Authorities urge citizens to exercise caution with unsolicited investment offers and verify the legitimacy of trading platforms.
These incidents serve as a stark reminder of the risks associated with online investment schemes. As cyber fraud becomes increasingly prevalent, it is crucial for individuals to remain vigilant and report suspicious activities to the police promptly. The Pune police are actively investigating these cases to bring the perpetrators to justice and prevent further financial losses in the community.
