A Pune-based ophthalmologist allegedly lost nearly Rs 95 lakh after being duped by cyber fraudsters operating a fake online share trading platform. A timely alert from the Delhi Cyber Crime Cell prevented him from transferring an additional Rs 1.59 crore, while Pune Cyber Police have registered an FIR and launched an investigation into the investment scam.
A Pune-based ophthalmologist has allegedly lost around Rs 95 lakh in an online share trading scam after being lured into investing through a fake investment platform promising unusually high returns.
Pune Cyber Police have registered an FIR and launched an investigation to trace the money trail and identify those behind the cyber fraud.
According to the police complaint, the 50-year-old doctor came across a Facebook advertisement claiming to offer free stock market analysis and high investment returns. After expressing interest, he was contacted via WhatsApp and added to an investment group where members regularly shared screenshots of substantial profits, creating the impression that the platform was genuine.
The fraudsters allegedly introduced themselves as representatives of a reputed investment research and brokerage firm. They persuaded the doctor to download a fake trading application, complete KYC formalities and begin investing.
To gain his confidence, the fraudsters initially asked him to invest a small amount. The application quickly displayed profits, and the doctor was able to withdraw three small payments totalling Rs 11,000 into his bank account. Convinced that the platform was legitimate, he continued investing larger amounts.
Between June 24 and July 16, the doctor transferred money in multiple instalments ranging from Rs 1,000 to Rs 55 lakh into different bank accounts. In total, he invested nearly Rs 95 lakh while the application reflected significant profits.
The fake trading platform later showed that his investment had grown to more than Rs 2.03 crore. However, when he attempted to withdraw the amount, his request was rejected. The fraudsters then allegedly claimed that a larger IPO allocation had been made in his name and demanded an additional Rs 1.59 crore before releasing the funds.
Before making the payment, the doctor received a call from the Delhi Cyber Crime Cell. Officials informed him that several bank accounts to which he had transferred money had already been flagged in cyber fraud complaints and were suspected mule accounts.
Realising he had been cheated, the doctor immediately cancelled the planned transfer of Rs 1.59 crore and reported the incident through the National Cyber Crime Helpline (1930), the cybercrime portal and later to Pune Cyber Police.
Investigators believe the fraud follows a common cybercrime pattern in which scammers use social media advertisements and WhatsApp groups to lure investors, display fake profits on fraudulent trading applications, allow small withdrawals to gain victims’ trust and later pressure them into investing significantly larger amounts before blocking withdrawals.
Police are currently tracing the beneficiary bank accounts and investigating the network involved in the fraud.
