Pune Cyber Fraud: 75-Year-Old Man Duped of Rs 12.31 Crore in Fake Stock Market Investment Scam

Hadapsar, 8th April 2026: In a major cyber fraud case, a 75-year-old doctor from Hadapsar was cheated of ₹12.31 crore over the past three months by cyber criminals who lured him with fake stock market investment schemes. A case has been registered at the Cyber Police Station in Shivajinagar, and an investigation is underway.

According to police, the victim, a resident of Bhosalenagar in Hadapsar, received a message in January promising high returns through stock market investments. The fraudsters gradually gained his trust by sharing details of supposed investment plans and convincing him of lucrative returns. Over time, the victim transferred ₹12.31 crore through multiple online transactions to bank accounts provided by the accused. The scammers allegedly created the illusion of profits but never paid any actual returns.

After realising he had been cheated, the elderly man approached the cyber police and lodged a complaint. Authorities are now conducting a technical analysis of the bank accounts involved and have contacted the concerned banks for further details.

In a similar case, a 44-year-old businessman from Magarpatta City in Hadapsar was cheated of ₹90 lakh using a similar modus operandi. The fraudsters promised monthly returns of 8–10 percent on stock market investments and persuaded him to transfer money in phases.

However, no returns were received, prompting him to file a complaint at the Shivajinagar Cyber Police Station. Police Inspector Sangeeta Devkate is investigating the case.

Cyber police officials have warned citizens about the rising number of such scams, particularly those targeting senior citizens.

In another recent incident, an elderly woman from the Deccan Gymkhana area was also duped while attempting to book a doctor’s appointment online.

Police have urged people not to respond to unsolicited messages or calls promising unusually high returns on investments and advised them to verify such claims before transferring money.