A retired bank official from Pune allegedly lost ₹64 lakh after falling victim to an online share trading fraud operated through fake investment platforms and messaging groups promising high returns. Police have registered a case and started an investigation into the suspected cyber fraud network behind the scam.
According to investigators, the victim was added to an online investment messaging group where people posing as stock market experts regularly shared trading advice, profit screenshots and investment success stories to gain trust. The retired banker was later convinced to invest money through what appeared to be a legitimate online trading platform.
Police said the accused persuaded the victim to transfer funds through multiple transactions over a period of time. The fake platform reportedly displayed fabricated profit figures on the dashboard to encourage larger investments.
The fraud came to light when the victim attempted to withdraw both the invested amount and the claimed profits. Investigators said the accused then demanded additional payments under different reasons, including taxes and processing charges.
When the victim refused to make further payments, communication with the fraudsters reportedly stopped and access to the trading platform was blocked. The complainant later approached police after realising the investment operation was allegedly fraudulent.
Cybercrime officials are now examining bank accounts, payment records, mobile numbers and digital platforms allegedly connected to the fraud. Investigators suspect the accused may be linked to a larger organised cybercrime network involved in fake trading and investment scams across multiple cities.
Authorities have repeatedly warned people against trusting unverified investment platforms, social media trading groups and individuals offering guaranteed returns in stock market investments.
Cybercrime experts said online investment fraud cases have increased sharply in recent years, with scammers using fake mobile apps, cloned trading websites and messaging platforms to target victims. Fraudsters often rely on fake profit dashboards and fake customer support systems to gain trust and extract larger amounts of money.
Officials have advised investors to verify trading platforms through authorised financial regulators before investing and to immediately report suspicious financial activity.
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