Pune: A timely warning from the Delhi Cyber Crime Cell prevented a Pune-based senior ophthalmologist from losing an additional ₹1.59 crore to an alleged online share trading fraud, after he had already been cheated of ₹95 lakh through a fake investment platform. Investigators said the case follows a familiar pattern of organised cyber investment scams in which fraudsters lure victims through social media advertisements, display fabricated trading profits and initially permit small withdrawals to gain trust before demanding significantly larger investments.
According to Pune Cyber Police, the 50-year-old doctor was drawn into the scheme through a Facebook advertisement that promised unusually high returns from stock market investments. The advertisement invited users to obtain free stock analysis by entering the name of a listed company on a website. Soon after he submitted the details, he was contacted through WhatsApp and added to an investment group.
Police said the WhatsApp group had more than 90 members, many of whom regularly shared screenshots showing substantial profits from online trades. The group administrators allegedly claimed to represent a reputed investment research and brokerage firm and persuaded the doctor to download a fake trading application. After completing purported KYC formalities, he was encouraged to begin investing with assurances of daily returns, high-profit block trades and lucrative IPO subscriptions.
Investigators said the fraudsters initially asked the victim to invest a small amount. The trading platform immediately reflected profits, and he even received three withdrawals totalling ₹11,000 in his bank account. These successful withdrawals convinced him that the platform was genuine, prompting him to invest increasingly larger sums.
Between June 24 and July 16, the doctor transferred money in multiple instalments ranging from ₹1,000 to ₹55 lakh into different bank accounts displayed on the application. The total amount invested reached approximately ₹95 lakh. The fake platform later showed that his investment had grown to more than ₹2.03 crore, creating the impression of substantial profits.
However, when the doctor attempted to withdraw the displayed amount, his request was repeatedly rejected. The alleged fraudsters then claimed that a larger IPO allocation had been made in his name and insisted that he deposit an additional ₹1.59 crore before any withdrawal could be processed. The unexpected demand raised suspicion, but before making the payment, the doctor received a crucial phone call from the Delhi Cyber Crime Cell.
According to the FIR, the Delhi police officer informed him that transactions made from his bank account on July 4 and July 5 had been credited to beneficiary accounts against which cyber fraud complaints had already been registered. The officer further informed him that those accounts were suspected mule accounts commonly used to route proceeds of cybercrime. The warning alerted the doctor to the ongoing fraud and prevented him from transferring the additional ₹1.59 crore demanded by the scammers.
The following day, the victim reported the incident through the National Cyber Crime Helpline (1930) and the online cybercrime reporting portal before approaching Pune Cyber Police. Investigators are now tracing the money trail through the beneficiary bank accounts, analysing financial transactions and identifying those who operated or benefited from the suspected mule accounts.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said organised investment fraud syndicates increasingly exploit social media advertisements, fake trading applications and WhatsApp investment groups to deceive investors. He said fraudsters often display fabricated profits and permit small withdrawals to build confidence before demanding much larger investments. He advised investors to verify investment platforms only through official regulatory authorities, avoid downloading applications from unverified links and remain cautious of unsolicited trading offers promising guaranteed or unusually high returns.
Police said the investigation is continuing to identify all members of the fraud network, trace the proceeds of crime and examine the role of beneficiary accounts used in the transactions. Authorities have urged citizens to report suspicious investment schemes immediately and verify every online investment platform before transferring money.
