Pune, 21 August 2025: A senior citizen from Vadgaon Sheri lost ₹1.57 crore after falling prey to cyber fraudsters who promised lucrative returns through stock market investments.
According to the complaint filed by the 65-year-old resident of Sopan Nagar, the fraud began on March 17 when unknown individuals contacted him via mobile. They persuaded him to join an online investment group, claiming that he would earn handsome profits through stock market trading.
Initially, the victim invested a small amount and received some returns, which built his trust. Encouraged by the apparent gains, he began investing larger sums over time. In total, the fraudsters managed to siphon off ₹1.57 crore from him. However, once the money was transferred, the returns stopped. Attempts to contact the accused failed, as their phone numbers were found switched off.
Realizing he had been cheated, the victim lodged a complaint at the Cyber Police Station in Pune. A case has been registered, and the investigation is being carried out under the guidance of Senior Police Inspector Swapnali Shinde.