Pune Citizens Lose Crores of Rupees in Stock Market Cyber Fraud in Two Separate Incidents

While incidents of cyber frauds are on the rise daily in Pune another incident has come to light where the victim has lost almost Rs 94 lakh 82 thousand 804 to online fraudsters posing as security stock agents of a top-notch nationalized bank.

A complaint was registered at the Pune Cyber police station by the victim. Accordingly, a case was registered against the unknown cyber fraudsters. As per the police, the victim received a call on his mobile phone on July 12 from the fraudsters who claimed to be security stock agents. The callers then added the victim to a WhatsApp group and sent him a link where he was asked to download a mobile application of a nationalized bank securities. The accused lured the victim with heavy returns by investing in IPOs of renowned companies.

Initially, the accused sent Rs 30000 to the victim's bank account claiming that he had gained some profit from his invested amount. The accused then asked the victim to transfer money into various bank accounts, the victim had transferred Rs 94 lakh 82 thousand 804 on regular intervals between July 17 to September 19.

Later when the victim asked for his returns the accused allegedly stopped replying to his calls, realising that he was duped the victim rushed to the cyber police station and registered a complaint against the unknown accused.

In another incident, a 43-year-old man was allegedly duped to the tune of Rs 77 lakh 50 thousand 754 between May 10 and July 26, 2024 by cyber fraudsters posing as stock market traders. The accused allegedly lured the victim by promising heavy returns by investing in stocks. The accused forced the victim to send money in various bank accounts and also asked her to download a mobile application. After investing almost Rs 77 lakh the victim released that she was duped as the accused stopped receiving her phone calls. Realizing that she was duped the victim rushed to the police station and filed a complaint against the accused.

While the citizens of Pune are losing crores of rupees in cyber fraud daily the Pune Police has appealed to the citizens to not fall prey to Ponzi online schemes promising heavy financial returns and immediately call 1930 if anyone loses their money in online fraud.