₹22.03 Crore Lost in Pune Share Trading Scam

Post Views: 14

A Sophisticated Scam: Elderly Man Loses ₹22.03 Crore in Fake Share Trading Scheme

A recent case of cyber fraud in Pune has resulted in the loss of ₹22.03 crore for an 85-year-old victim, who was deceived by a group of individuals posing as stock market experts. The scam, which was carried out between November 25, 2025, and January 9, 2026, involved the use of fake mobile applications, fraudulent investment links, and a well-planned strategy to gain the victim’s trust.

The Scam

According to the investigation, the accused created a fake investment group and shared screenshots of alleged profits, stock tips, and unusually high returns to convince the victim of their legitimacy. Once the victim had invested, the scammers demanded additional payments under various pretexts, such as tax clearance, processing fees, and security deposits. The investment amount continued to increase, ultimately resulting in the transfer of ₹22.03 crore into accounts controlled by the accused.

The Investigation

The cyber cell of the Pune City Police was able to track down the suspects through a technical analysis of bank transactions, call detail records, digital devices, and online chat histories. Eight individuals were arrested and produced before a local court, which remanded them to police custody until February 16, 2026.

During the investigation, police were able to freeze ₹3.24 crore in bank accounts linked to the accused. Efforts are ongoing to identify additional suspicious accounts and recover the remaining defrauded amount. Preliminary findings suggest that the money was routed through multiple layered accounts to make tracking difficult.

Warning to Citizens

The case highlights the growing concern of fake share trading and investment scams, particularly targeting senior citizens and individuals unfamiliar with digital trading platforms. Cyber police officials have warned citizens to be cautious when investing through unknown links shared on social media or messaging apps. Investors are advised to verify trading platforms through official stock exchange websites and use only reputable and authorized digital channels.