Cyber Fraud In Pune: Homemaker And Civil Contractor From Pimpri Duped Of Over Rs 1 Crore In Stock Market Scam

August 29, 2024

A 47-year-old woman from Vallabhnagar in Pimpri fell victim to cybercriminals, losing Rs 94.2 lakh in an online share trading scam that took place between June and August 7. She reported the incident to the Pimpri police on Tuesday. Inspector Suhas Avhad from the Pimpri police stated that in June, the woman, who is a homemaker, saw an advertisement online about investing in the stock market. When she clicked on the link, she was added to a group of investors on a messaging app. According to the officer, the scammers promised her substantial profits if she invested in shares through them and instructed her to download an app to track her investments and earnings.

Believing the scammers, the woman began transferring money, first depleting her entire bank balance and then selling her gold jewelry. She saw what appeared to be significant profits. However, when she attempted to withdraw her funds, the fraudsters gave her various excuses and demanded even more money. As a result, she borrowed from relatives and sent the money to the bank accounts they provided. Between June and August 7, she transferred a total of Rs 94.2 lakh to nine different bank accounts. The officer stated that the case has been registered under the sections of the Indian Penal Code and the Information Technology Act.

In a similar incident, a 48-year-old civil contractor from Pimpri also fell victim to an online share trading scam, losing Rs 21 lakh between July 1 and August 16 after responding to a stock market investment ad on social media and joining a group on an app.