Pune: Women Among Victims of Multi-Lakh Stock Market Fraud, Rs 39 Lakhs Lost To Fraudsters

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Pune, 5th May 2024: A surge in stock market fraud cases has prompted concern among residents, as victims fall prey to promises of lucrative returns. Amidst reports of fresh incidents involving substantial financial losses, a shocking revelation surfaces as two women, among others, were duped of a staggering Rs 39 lakhs collectively. The victims have filed complaints with various police stations across the city, leading to formal investigations.


One such case involves a 38-year-old woman residing in Balajinagar, Dhankawadi area, who lodged a complaint at Sahakarnagar police station detailing a fraud scheme. Cybercriminals siphoned Rs. 10 lakh 31 thousand from two separate bank accounts under the guise of lucrative share trading returns, leaving the complainant empty-handed. The incident, spanning from December 21, 2023, to March 21, 2024, prompted immediate action from the police. Police Inspector Uttam Bhajanave is leading the ongoing investigation into the matter.


Similarly, a 61-year-old resident of Baner, fell victim to fraudulent promises of profitable stock market trading. He lodged a complaint with Chatushringi police station after being misled by cybercriminals who enticed him with substantial profits through stock market investments. The perpetrators initiated contact via WhatsApp, persuading him to join a trading group and download a trading application. Despite apparent gains on the app, he was unable to withdraw funds, leading to further demands for additional investments. Realizing the deception, he approached the authorities, prompting an investigation led by Police Inspector Jagtap, spanning from January 7 to March 27.


In a separate incident, a 35-year-old woman from Lonikalbhor fell victim to cyber thieves who exploited her trust on Facebook, promising attractive returns on stock market investments. After investing 3 lakhs 41 thousand rupees, the woman received no returns or communication from the fraudsters. Promptly reporting the incident to Lonikalbhor police station, the victim initiated legal proceedings, marking a case of financial exploitation spanning from December 11, 2023, until the complaint was filed.