A major cyber fraud involving online investment scams has surfaced in Pune, where a chartered accountant was allegedly cheated out of ₹1.15 crore through a well-orchestrated WhatsApp-based trap. Police said the entire operation was executed through a group that falsely promised stock market training and high investment returns.
The victim, a 48-year-old resident of a luxury apartment on Sinhagad Road, lodged an FIR at the Pune city cyber police station on June 9. According to the complaint, the victim first came across a WhatsApp advertisement on November 15, 2025, titled ‘D18 Exploring Profit Methods’. After clicking the link, he was added to a WhatsApp group with the same name.
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Investigators said the group reportedly had 158 members and was administered by an individual identified as Megnand Sharma, who claimed to provide stock market training. In the initial phase, the group shared basic investment tips and displayed small, fabricated profits to build credibility and gain the victim’s trust.
According to the complaint, the accused convinced the victim that he could earn extraordinary returns through stock trading, IPO investments, and other financial instruments. After gaining confidence through initial fake returns, the victim was gradually pushed into making higher investments. Over time, multiple transactions were executed, resulting in a total alleged loss of ₹1.15 crore.
Police believe the case is not an isolated incident but part of a larger organized cyber fraud network operating through social media and messaging platforms. Preliminary findings suggest that such groups use fake members, manipulated profit screenshots, and fabricated trading dashboards to mislead investors into believing in unrealistic returns.
Cyber experts noted that such scams typically begin with “training groups” or “investment communities” designed to appear legitimate. Victims are initially engaged through small gains and interactive discussions. Once trust is established, they are persuaded to invest larger sums. Eventually, the operators disappear or shut down the platform after collecting significant funds.
Investigating officers have initiated a detailed technical analysis of the case, including tracing bank accounts, transaction IDs, and digital footprints linked to the fraud. Authorities are also examining whether the money trail extends beyond domestic boundaries, indicating possible international links.
Experts highlighted that online trading and IPO-related scams have increased significantly in recent years. Fraudsters are increasingly targeting not only inexperienced investors but also professionals by exploiting the growing interest in stock market investments and digital trading platforms.
Police have issued an advisory urging citizens to verify the authenticity of any WhatsApp or Telegram investment group before engaging or investing. Authorities warned against trusting unsolicited links or promises of guaranteed high returns, stressing that legitimate financial institutions do not operate through informal messaging groups.
The cyber police team is currently working to uncover the full extent of the network and determine how many other individuals may have fallen victim to the same scheme. Officials said further revelations are likely as the investigation progresses into what appears to be a wider and more sophisticated online investment fraud racket.
