Pune Man Loses Rs 98 Lakh in Online Investment Scam Promising High Returns

Pune, 29th December 2025: A 56-year-old employee of a private firm from Thergaon has been cheated of Rs 98 lakh in an online investment fraud after cyber criminals lured him with promises of unusually high returns on share market investments over a three-month period.

The victim has filed a complaint with the Pimpri Chinchwad cyber police, who have begun an investigation into the case.

According to police officials, the man was added to an investment-related group on a mobile messaging platform in September. The group appeared credible as its name closely resembled that of a well-known investment company. “The victim believed the group was genuine and did not initially suspect any wrongdoing,” a cyber police official said.

The fraudsters allegedly offered returns of over 15 percent on stock market investments made through their platform. Convinced by the assurances, the man agreed to invest and was asked to download a mobile application that claimed to facilitate share trading and display profits. “The application showed steady growth, which further strengthened his confidence,” the official added.

Between September and November, the victim transferred large sums of money to multiple bank accounts as instructed by the accused. Police said the application continued to display attractive profits, encouraging further investments. When the victim later attempted to withdraw the amount, he was told that additional investments were required, including the purchase of initial public offerings (IPOs).

“In total, Rs 98 lakh was transferred by the victim. He realised something was wrong only when repeated attempts to withdraw the money failed,” the officer said. After the fraudsters stopped responding to his messages, the victim approached the cyber police.

Investigators said similar online trading scams have been reported in recent weeks. In separate incidents, a software engineer lost Rs 95.2 lakh, while a resident of Hadapsar was defrauded of Rs 1.2 crore through comparable online share trading schemes.

The cyber police have urged citizens to remain cautious of investment offers promising guaranteed or unusually high returns and to verify the authenticity of platforms before transferring money.