High Returns from Stock Market: Three Individuals Scammed, Cases Filed

Accused claimed to secure high returns from stock market. However, neither any returns nor the principal amount was given back.
Image for representational purpose
Image for representational purpose

Pune: Three individuals have been defrauded with promises of high returns from task completions and stock market investments. Complaints were filed on Wednesday (3rd) at the respective police stations.

Umesh Yashwant Pasalkar (41), a resident of Sadashiv Peth, lodged a complaint at the Vishrambaug Police Station. He has accused Prathamesh Sanjay Bhilare (27) from Dattawadi of fraud.

The alleged scam occurred between January 21, 2019, and February 16, 2023. The accused claimed he could secure high returns from the stock market and took ₹57.34 lakh from the complainant. However, neither any returns nor the principal amount was given back, leading to the filing of the complaint.

A 29-year-old woman from Hadapsar filed a complaint stating that unknown individuals promised high returns upon completing certain tasks. They collected ₹8.31 lakh from her under the pretext of prepaid tasks, but she received no returns.

In another case, a 45-year-old resident of Manjari filed a complaint at the Hadapsar Police Station. Cyber fraudsters gained access to the complainant's mobile phone and transferred ₹4.15 lakh without authorization.

These incidents highlight the growing threat of cyber fraud and financial scams in the region, prompting police to urge citizens to exercise caution and verify the authenticity of investment opportunities.

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