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Pune man duped of Rs 5 lakh in share market investment fraud

Updated on: 23 July,2025 11:22 AM IST  |  Mumbai
mid-day online correspondent |

The victim had been looking at some advertisements related to share market investment. A person later added him to a WhatsApp group, with its administrator guiding people on share trading

Pune man duped of Rs 5 lakh in share market investment fraud

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A man from Pune in Maharashtra has allegedly been duped of more than Rs 5 lakh after being lured by a cyber fraudster under the pretext of investment in the share market for good returns, police said, reported news agency PTI.

The victim had been looking at some advertisements related to share market investment. A person later added him to a WhatsApp group, with its administrator guiding people on share trading, an Ambegaon police official said.


Later, a person sent the victim a link and asked to furnish details for the investment, promising good returns in an IPO subscription. Under the pretext, the person managed to access the victim's Aadhaar card, PAN card and other details, the official said, reported PTI.



The fraudster allegedly siphoned off more than Rs 5 lakh from the victim's account, as per the police.

After the victim came to know of the fraud, he approached the Pune police, who registered a case on Monday under relevant legal provisions and launched a probe into the matter, the official said, reported PTI.

Elderly woman from Mumbai loses Rs 7.88 crore in stock investment fraud

In another case, a 62-year-old housewife from Mumbai has allegedly been duped of Rs 7.88 crore by cyber fraudsters after being lured to invest in the stock market for high returns, police said, reported PTI.

The fraudsters posed as representatives of a reputed financial services company to cheat the woman, a resident of the Bandra area, over the last two months, an official from West Region Cyber Police Station said on Monday, reported PTI.

The victim, in her police complaint, said she first received a message on WhatsApp from an unknown number. The sender, identifying as a woman, claimed to be the assistant of a senior officer of the company and initiated a conversation about stock investments.

The victim was then provided with the company officer's contact number and a link to a website. She was subsequently added to a WhatsApp group and introduced to another individual, who also claimed to be associated with the finance company, the official said, reported PTI.

On the woman's insistence, the victim transferred a total of Rs 7,88,87,000 into multiple bank accounts over a period of time, the police said.

When she attempted to withdraw her funds, she was asked to deposit an additional 10 per cent of the amount. Sensing something suspicious, the woman decided to inquire, which indicated the fraud, reported PTI.

Based on the woman's grievance lodged on an online cyber complaint portal, the police have registered a case against unidentified persons under relevant legal provisions and initiated a detailed investigation into the matter, the official added.

(With inputs from PTI)

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