IT professional in Pune loses ₹4.43cr to trading scam
A Pune-based IT professional lost ₹4.43 crore in a trading scam after joining a WhatsApp group masquerading as a stock market advisory platform and using the name of a reputed international banking institution to gain credibility.
Nearly two weeks, he made 34 payments through a fake investment app that showed big profits but never let him withdraw any money.
Once he realized he'd been scammed, he reported it to the Cyber Crime Police in Pimpri-Chinchwad, and now the investigation is underway.
WhatsApp group pushed bogus trading app
It all started with a social media post that led him to a WhatsApp group.
The victim joined daily online sessions, and an administrator called "Maira," then was persuaded to download a bogus trading app that displayed fake returns, supposedly ₹26.64 crore!
When he tried to cash out, he was pressured into paying more.
Investigators flag mule accounts, rising scams
Investigators think the money was moved through several mule accounts and warn that scams like this are on the rise, often using trusted brand names and slick apps.
This case is a reminder: be careful with online investments and don't trust random advice on social media, no matter how convincing it looks.