Pune: Hinjawadi Tech Firm Official Duped of Rs 34 Lakh in Online Share Market Scam

Hinjawadi, 26th August 2025: A senior executive working with a reputed IT company in Hinjewadi was cheated of Rs 34 lakh by cyber fraudsters in a bogus stock trading scheme that ran between June and July this year.

The victim approached the Cyber Police Station with a complaint, following which an FIR was registered at Hinjawadi police station on Sunday.

According to investigators, the executive first came across the accused through posts on a social media platform that promised high returns on stock market investments. “The suspects had created an investment group on a messaging application. They lured the complainant by sharing claims of heavy profits and later convinced him to download a trading application,” a police officer said.

Initially, the complainant transferred small amounts to the bank accounts shared by the fraudsters and was shown fake profits reflected on the app. Believing the scheme to be genuine, he went on to transfer larger sums. “Between June and July, he deposited a total of Rs 34 lakh in multiple accounts provided by the accused,” the officer added.

When the victim attempted to withdraw his so-called earnings, the application stopped responding and the suspects became unreachable. Realizing that he had been duped, he then approached the police.

“We are in the process of collecting detailed information about the transactions from the complainant’s bank. Efforts are also underway to trace the bank accounts and the people operating them,” the investigating officer said.

Police have once again appealed to citizens to exercise caution while investing online. “Fraudsters often use fake trading apps and groups to trap people. One should always verify the authenticity of platforms before transferring money,” the officer cautioned.