Pune: Woman Posing as ‘Siya’ Dupes Mulshi Police Patil of Rs 56 Lakh in Stock Investment Scam
Mulshi, 28th July 2026: A police patil from Mulshi taluka was allegedly duped of Rs 56.25 lakh in an online investment scam after cyber fraudsters lured him with promises of massive returns in the stock market and falsely showed his investment had grown to Rs 10.90 crore.
The victim, Sagar Dnyaneshwar Papal, police patil of Andhale village in Mulshi, had been investing in the stock market alongside farming. On November 26, 2025, he clicked on an Instagram advertisement claiming to be from “Ventura Securities Limited” and shared his mobile number to know more about the investment opportunity.
Soon after, he was contacted on WhatsApp and assured of high returns through the company’s investment platform. He was added to a WhatsApp group named “Ventura Securities Limited Club-113”, where a woman identifying herself as “Siya” instructed him to download a trading app and create an account.
To gain his confidence, the fraudsters initially showed around a 10% profit on a small investment. They later persuaded him to transfer larger sums to multiple bank accounts and Google Pay IDs, claiming they could provide IPO shares at discounted rates through their platform.
The app displayed his investment value rising rapidly after every transaction and eventually showed a portfolio worth Rs 10.90 crore, prompting him to invest further.
Between November 27, 2025, and January 2, 2026, Papal transferred a total of Rs 56,24,999 to various accounts provided by the accused.
When he attempted to withdraw the money, the fraudsters demanded an additional Rs 30 lakh as a “security deposit”. Even after he requested them to deduct the amount from his purported profits, they refused, insisting no funds would be released unless the security amount was paid. Realising he had been cheated, Papal approached the authorities.
He lodged complaints with the National Cyber Crime Helpline (1930) on January 6, 7 and 8, 2026, following which an FIR was registered at Paud police station.
Police have booked the woman who identified herself as “Siya”, the WhatsApp group administrator, the unidentified person who first contacted the victim, and the holders of the bank accounts used in the transactions. Further investigation is underway.
Police have urged citizens to verify the authenticity of investment platforms, avoid downloading apps suggested by unknown persons, and immediately report suspicious online transactions to the 1930 cyber helpline.
