Lokmat News Network
Chhatrapati Sambhajinagar
A 69-year-old retired principal was allegedly duped of Rs 31.07 lakh by cyber fraudsters who lured him with promises of 20–30 per cent returns through fake share market investment apps. A case was registered at Jinsi police station on April 21.
Police said he received a link to “Sundaram Market Masters” from two unknown WhatsApp numbers and was added to two groups where members claimed to have earned high profits. A woman identifying herself as Kyra Sharma contacted him and asked him to install two apps “SDAMC” and “SDAMCHD”.
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Started with Rs 5,000
He initially invested Rs 5,000 and, over three months, transferred Rs 31.07 lakh to a bank account named “Sundaram Trading”.
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Profits visible, but only ‘virtual’
The apps showed steady 20–30 per cent returns, giving an impression that the profits were withdrawable. However, when he attempted to withdraw the amount, the transaction failed. On confronting Kyra Sharma, he was blocked. He later realised the apps, profit figures and WhatsApp messages were part of a coordinated fraud network. Senior police inspector Shivaji Budhavant is investigating the case.