Pune: IT Professional Loses Rs 4.43 Crore in Fake Stock Trading Scam
Pune, 8th June 2026: A 46-year-old software professional from Pune was allegedly duped of Rs 4.43 crore by cyber fraudsters who drew him into a bogus stock investment scheme run through a WhatsApp group and a fake trading application, police said.
The Cyber Crime Police Station in Pimpri Chinchwad has registered an FIR based on the victim’s complaint and initiated a probe into the financial fraud.
According to investigators, the complainant was first approached through a social media post and was later added to a WhatsApp group that projected itself as a stock market advisory forum. To appear legitimate, the operators of the group allegedly used the name of a globally recognised banking institution.
Police said group administrators conducted daily virtual sessions, offering stock market tutorials, trading tips and recommendations on stocks purportedly capable of generating high returns. A woman identifying herself as “Maira” introduced herself as an investment expert and frequently interacted with members. The group also circulated screenshots claiming to show large profits earned by investors, allegedly to build confidence among participants.
Investigators said the victim was eventually convinced to install a trading application through a link shared in the group and create an investment account. The platform displayed substantial gains on investments, prompting him to continue transferring funds over a span of nearly two weeks.
During this period, the victim allegedly transferred Rs 4.43 crore through 34 separate transactions. Police suspect the money was funnelled through multiple bank accounts operated by the fraudsters across different states.
Although the application reflected a notional profit of around Rs 26.64 crore, the victim was unable to withdraw any amount. Whenever he attempted to access the funds, the operators allegedly demanded additional payments under various pretexts. Suspecting foul play, he approached the police. The investigation is being supervised by Senior Inspector Ravikiran Nale.
