Pune: Hinjawadi Police Register Case Against Ten Accused in Rs 30 Lakh Fraud Through Stock Market Investment

Hinjawadi police station
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Hinjawadi, 12th April 2024: A case of financial fraud has emerged in Hinjawadi, where a citizen was cheated of Rs 30 lakh through promises of a 30 % profit from the stock market. The fraudulent activities took place between December 18, 2023, and February 14, 2024, and the victim has since filed a complaint with the Hinjawadi Police Station.

Based on the complaint, the police have registered a case against ten individuals, including administrators of various WhatsApp groups, Telegram accounts, and bank accounts, who are suspected of being involved in the scam. According to the police, the victim first encountered the scheme through a stock market tip he found on Facebook. Once he clicked on it, he was added to a WhatsApp group.

The accused lured the complainant with the promise of a 30 % profit from the stock market and convinced him to invest money in various accounts. However, the victim ended up being defrauded of Rs 30 lakh, with neither his principal amount nor profit returned. Additionally, the victim was told that he needed to pay a 10 % tax to withdraw his funds and was provided with a private phone number.

Hinjawadi Police are investigating this matter further.