A 58-year-old retail businessman from Mundhwa was allegedly duped of Rs 1.22 crore in an online share trading fraud between October and December 2025 after being lured with false promises of high returns.
Pune cyber police have registered a cheating case after verifying the complaint filed by the victim.
How the victim was drawn in
According to the FIR, the businessman was added to a group on a messaging application where members regularly discussed profits from online share trading. The group carried a name similar to that of a well-known share broking company, creating an impression of legitimacy.
The members of the group frequently praised the administrator for providing profitable trading tips. This appears to have helped build confidence in the platform and in the investment claims being circulated there.
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App link and bank accounts used in the fraud
After contacting the group administrator, the victim was sent a link to download a mobile trading application. He initially began investing in low-value shares through the app before being encouraged within a few days to move into high-value shares for greater returns.
The administrator then allegedly offered to handle transactions on his behalf. The accused shared details of seven different bank accounts and persuaded the businessman to transfer large sums of money for these supposed investments.
Police register case after complaint verification
Believing the scheme to be genuine, the victim transferred a total of Rs 1.22 crore over nearly three months. The Pune cyber police registered the case on Monday after verifying his complaint.
Officials have again urged citizens to verify investment platforms carefully and not transfer money on the basis of unverified online advice.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
