The Cyber Cell of Pimpri-Chinchwad police has arrested Santosh Rupnar, 47, a private businessman from Manjari Budruk, for allegedly duping investors in an online share market scam worth ₹2.24 crore. The arrest was made last week.
The case surfaced between July and August 2025, when a share market employee was contacted by a man named Rajiv Bhatia. He added the victim to WhatsApp groups sharing stock trading tips and promised returns of 10–15 percent. The victim was asked to download a trading app and, trusting the claims, transferred ₹2.24 crore through multiple transactions.
The app displayed profits of ₹10 crore. However, when the victim attempted to withdraw funds, he was asked to pay various charges, raising suspicion.
Police traced ₹1.05 crore to a bank account under Jana Seva Industries Pvt Ltd, operated by Rupnar. During questioning, Rupnar admitted to providing his account to cyber fraudsters. Investigations revealed that approximately ₹3.53 crore in fraudulent transactions have passed through his account, with 12 cases registered across multiple states.
Authorities have cautioned investors about rising cyber fraud in online trading. “Investors must verify platforms and use only SEBI-registered apps,” said a senior police officer.
Rupnar has been remanded to police custody, and further investigations are underway to trace the remaining funds and identify the larger network behind the scam.
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