Pune: Investor Duped of Rs 2 Crores in Stock Market Fraud

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Wakad, 31st December 2023: A 45-year-old resident of Thergaon, fell victim to an elaborate investment scam, losing a staggering amount of 2 crores 10 lakhs. The fraudulent scheme unfolded between November 29, 2023, and December 30, 2023, through online channels.


Dange filed a complaint with the Wakad Police Station (Pimpri Chinchwad police), outlining the deceptive tactics employed by the fraudsters. The culprits, operating under the guise of representatives from a company named Sequoia Capital, enticed Dange with promises of lucrative returns in the stock market. To initiate the process, the scammers compelled Dange to open an account by sending a link on WhatsApp.


Having gained access to Dange’s trust, the perpetrators convinced him to invest a substantial sum of 2 crores 10 lakhs and 50 thousand rupees. The situation took a turn when the fraudsters demanded additional funds for an Initial Public Offering (IPO), a request Dange rightfully declined as he had not initiated such an order.


In response to Dange’s refusal, the scammers resorted to freezing the entire amount of 2 crores 10 lakhs and 50 thousand rupees in the wallet on the website, citing false reasons that it could not be withdrawn. The Wakad police have initiated an investigation into the matter, and a case has been filed against the individuals associated with the phone numbers 7892423825, 8296649283, 7063089288, 9873427189, 7800931175, 9873146680, and 7305890695.