Cybercrime authorities in Pune are investigating a series of online investment fraud cases in which unsuspecting residents were cheated out of crores of rupees through fake share trading platforms. The scams involved fraudsters posing as stock market experts who lured victims into bogus trading schemes promising unusually high returns.
Police said the victims were initially contacted through social media platforms and messaging applications where scammers introduced themselves as professional stock market analysts or investment advisors. In many cases, victims were added to online groups where fabricated trading tips and screenshots of huge profits were regularly shared to build credibility.
How Fraudsters Lured Victims Into Fake Trading Platforms
According to investigators, once victims showed interest, the scammers directed them to download fraudulent trading applications or register on fake investment platforms designed to resemble legitimate stock trading portals.
These platforms displayed manipulated dashboards showing rapid profit growth to convince victims that their investments were performing exceptionally well. Encouraged by these false profits, victims continued to transfer larger amounts of money to bank accounts shared by the fraudsters.
Police officials said the fraudsters used multiple mule bank accounts to receive funds, making it harder for authorities to trace the money trail.
FCRF Launches Flagship Certified Fraud Investigator (CFI) Program
Victims Asked To Pay More To Withdraw “Profits”
In several cases, the victims attempted to withdraw their supposed profits after seeing large balances on the fake trading platforms. However, the fraudsters then demanded additional payments citing reasons such as taxes, processing fees, brokerage charges, or account verification costs.
Believing these charges were necessary to release their profits, many victims transferred even more money. Eventually, the scammers either stopped responding or blocked the victims entirely, leaving them unable to access either their investment or the fake profits displayed on the platform.
Cybercrime officials said the victims only realised they had been cheated after repeated attempts to contact the fraudsters failed.
Police Warn Of Rising Online Investment Scams
Officials from the cybercrime cell said such online investment scams are becoming increasingly common across the city, with fraudsters using WhatsApp and Telegram groups to target potential investors.
Authorities have advised citizens to exercise extreme caution while dealing with online investment opportunities promoted through social media or messaging platforms. Police have also warned people not to download unknown trading applications or transfer money based on unsolicited investment advice.
Investigations are currently underway to identify the individuals operating these fraudulent trading networks and trace the bank accounts used in the scam. Police have urged victims of cyber fraud to report incidents immediately so that authorities can attempt to freeze the funds before they are withdrawn.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
