Pune: Rs 20 Lakh Fraud In Online Trading Scam Uncovered In Wakad

Wakad, 1st November 2023: In a case of online trading fraud, three individuals collectively swindled a victim of Rs 20.85 lakhs between July 4 and August 12 in Wakad.

Amit Madanrao Kate, a 39-year-old resident of Wakad and a native of Nagpur, has reported the incident to the Wakad police station. Subsequently, a case has been registered against individuals named Kevin, Lisa, Warren (with full names and addresses unknown), and the UPI ID holder responsible for the money transfers.

According to the police, the victim’s mobile number was added to a WhatsApp group, where the accused sent a link and compelled the victim to download an app. They then initiated a scam, deceiving the victim by claiming to engage in online trading. After an initial payment, the accused presented a fake deposit of Rs 1,23,83,302 in the victim’s trading account.

Subsequently, they extracted a total of Rs 20,85,330 from the victim, citing a ten percent tax requirement for withdrawal. However, the victim was cheated, and no amount was returned. The Wakad police have launched an investigation into the matter.