Pune, 14 July 2025: In a shocking case of cyber fraud, scammers duped two individuals, including an IT professional, from Wagholi of a staggering ₹3.89 crore by luring them into fake stock market investment schemes. Both cases have been registered as separate FIRs at the Wagholi Police Station.
In both incidents, the fraudsters used fake mobile applications and websites to trap the victims under the guise of stock market investments. One of the victims, a 53-year-old IT engineer residing in the Ivy Estate area, came across an attractive stock market advertisement on YouTube. After clicking the link, he was added to a WhatsApp group where he was encouraged to download an app and open an account.
Initially, he invested a small amount and was shown artificial profits to gain his trust. Convinced, he invested further using his own money as well as funds belonging to his parents, total ₹3.71 crore across multiple bank accounts.
The fraudulent website eventually showed a profit of ₹20 crore, but when he attempted to withdraw the funds, he was asked to pay a 10% "platform fee." This raised suspicion, prompting him to file an online complaint, followed by an FIR at the local police station.
In the second case, a 57-year-old man from the Kesnand Road area was added without consent to a WhatsApp group. Group members shared fake screenshots showing hefty returns from stock market investments. He, too, was convinced and invested ₹10.25 lakh in stages.
Eventually, the fraudulent website became inaccessible and he was removed from the group, making it clear he had been scammed. He has since lodged a complaint with the cyber police.
Investigations are underway in both cases, and police have appealed to the public to remain cautious about such online investment offers and never trust unfamiliar links or apps without proper verification.