4 duped of Rs 1 cr in share trade fraud in Pune

Initially, the victims reported it to cybercrime, and subsequently, four complaints were submitted to the two police stations.

27 June 2024

Amidst a rise in online share trading fraud since 2023, recently four persons—including a woman—have lost a total of Rs 1.03 crore. On Tuesday, Lonikand and Vishrantwadi received two complaints each.

A lady and a man complained to senior inspector Ashok Salgaonkar of the Lonikand police, about receiving text messages on social networking sites. The investigator claimed that the victims replied to the SMS and exchanged messages with the scammers, who asked them to invest in online share trading.

According to Salgaonkar, both of the victims sent Rs 5,000 each and signed up for an application where traders discussed information sharing. The scammers tricked the two victims into making investments, and they moved a total of about Rs 54.03 lakh into the bank accounts given by the fraudsters. 

Similarly, in the remaining two complaints at Vishrantwadi police station, Senior Inspector Kanchan Jadhav stated that two males from Vishrantwadi lost a total of Rs 51.97 lakh in an online share trading scam. According to Jadhav, the victims sent money into the bank accounts provided by the thieves without checking their identities.

Initially, the victims reported it to cybercrime, and subsequently, four complaints were submitted to the two police stations.