Pune IT Professional Loses Rs 48 Lakh in Online Share Trading Scam
Pune, 6th October 2025: A 52-year-old software engineer from Pimple Saudagar, working as a senior consultant at an IT firm in Hinjewadi, has fallen victim to an online share trading fraud, losing a total of Rs 48.36 lakh between August and September. The victim lodged a complaint with the Sangvi police on Saturday.
An officer from the Sangvi police said the engineer was first contacted by the fraudsters in July through a social media platform. “The complainant was added to a group of investors on a mobile app. The group members shared stock market tips and claimed to earn daily profits,” the officer explained.
The police officer added that the victim was then asked to download a trading app using a link provided by the crooks. “They promised a 300% return on investment and instructed him to transfer money to multiple bank accounts. Between August 11 and September 10, the complainant transferred Rs 48.36 lakh to nine different accounts,” he said.
According to the police, the app falsely displayed profits of Rs 76.36 lakh, but the crooks only returned Rs 7,000 to the victim. When he attempted to withdraw his funds, he was removed from the investment group.
“This type of online fraud is becoming increasingly common,” the officer said. “The cybercriminals lure victims by creating fake investment groups and showing fictitious profits to gain trust before disappearing with the money.”
The Sangvi police noted that this was not an isolated incident. On Friday, the Pimpri-Chinchwad cybercrime police registered a complaint from a 45-year-old automobile engineer who alleged that he was cheated of Rs 2.1 crore over two months through a similar online share trading scam. In both cases, victims were added to messaging app groups where members appeared to discuss high returns from share trading, creating a sense of legitimacy.
Authorities have urged investors to exercise caution, verify any trading platform before investing, and report suspicious investment schemes immediately.
