Pune: 78-year-old man loses ₹1.68cr to online fraud

India Nov 19, 2025

A 78-year-old retired bank manager in Pune lost ₹1.68 crore after falling for a clever online scam.
Fraudsters set up a fake global contest promising big rewards for voting and convinced him to switch from a real trading platform to their fake one—losing ₹1.68 crore in just a month.

How the scam unfolded

It all started with a call from someone pretending to be a finance company exec, who talked him into transferring money based on fake returns and trading tips.
He made over 23 transfers before things got suspicious—a huge tax bill arrived for "earnings" he never actually made, finally exposing the fraud.
The case is now with Pune's Cyber Crime police, serving as another reminder to stay sharp about online financial offers.