Cyber fraudsters duped victims of ₹90 lakh in online trading
Pimpri-Chinchwad cyber police have busted a ₹20-25 crore online share market scam, arresting six people who lured around 150-160 victims with fake trading apps and promises of daily returns of up to 20%.
Victims—including a pharma company programmer who invested nearly ₹90 lakh after spotting a tempting social media ad—were shown fake profits but couldn't withdraw their money.
How the gang operated
The gang used phony trading apps to display false gains, then blocked withdrawals by inventing extra "service charges."
They funneled money through local bank accounts to Chinese handlers using Telegram, and moved funds overseas via crypto and hawala.
Police caught the group at a Kondhwa hotel on Wednesday, seizing phones, SIM cards, cash, laptops, and more.
The accused are now in custody as investigators dig deeper into possible international cybercrime links.