Pune: 85-year-old man loses ₹22cr in fake share trading scheme
Business
Eight people have been arrested in Pune for running a fake share trading scheme that scammed an 85-year-old man out of ₹22 crore.
The group lured him through a WhatsApp group, promised big returns, and got him to use a bogus investment app between October 2025 and January 2026.
Suspects in police custody
Led by PI Swapnali Shinde, the cyber cell traced the money trail and managed to freeze ₹3.24 crore so far.
The suspects—hailing from Ambernath and Chhatrapati Sambhajinagar among other places—are now in police custody as investigators identify additional accounts and other members of the network.