Pune: ₹49 Lakh Lost in Fake Stock Market and Insurance Investment Scams

Victims from Wagholi, Manjari and Lohegaon cheated by fraudsters promising high returns
Pune: ₹49 Lakh Lost in Fake Stock Market and Insurance Investment Scams
Pune: ₹49 Lakh Lost in Fake Stock Market and Insurance Investment ScamsThe Bridge Chronicle
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Pune, 12 January 2025: Cyber criminals have cheated residents of Wagholi, Manjari and Lohegaon areas of a total of ₹49 lakh by luring them with promises of high returns through fake investment schemes. Police have registered separate cases in all three areas.

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In the biggest case, a resident of Wagholi was cheated of ₹27.92 lakh. The victim received a call claiming that investing in the stock market would bring quick and high profits. Trusting the offer, he transferred money to the fraudsters’ bank accounts.

When the promised returns never came, he realised he had been cheated and approached the Wagholi Police Station. The case is being investigated by Senior Police Inspector Yuvraj Hande.

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A similar fraud took place in Manjari, where another resident lost ₹8.86 lakh. The victim was also promised high profits through market investments and was convinced to send money to unknown accounts. A complaint has been registered at the Manjari Police Station, and the investigation is being handled by Senior Inspector Babasaheb Nikam.

In the third case, a woman from Lohegaon was cheated of ₹12.28 lakh after fraudsters offered attractive returns through an insurance investment plan. After transferring the money, she found that the callers had disappeared.

A case has been registered at the Lohegaon Police Station, and Senior Inspector Vishwajit Jagatap is leading the probe.

Pune: ₹49 Lakh Lost in Fake Stock Market and Insurance Investment Scams
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Police have warned citizens to be cautious of unsolicited calls or messages promising guaranteed or unusually high returns on investments.

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