Pune (Maharashtra) [India], February 12 : Pune Police have arrested eight persons in connection with a major cyber fraud case involving fake share trading, in which an 85-year-old senior citizen was cheated of Rs 22.03 crore, officials said on Wednesday.
According to the Cyber Cell of Pune City police, the accused used WhatsApp groups, mobile applications and fraudulent links to lure the victim into bogus share trading investments.
The offence was registered under Sections 318(4), 318(2), 318(1), and 3(4) of the Bharatiya Nyaya Sanhita, 2023, and the relevant sections of the Information Technology Act.
Police said the fraud took place between November 25, 2025 and 9 January 2026, during which the accused convinced the victim to transfer money in multiple transactions, falsely projecting high returns from stock market investments.
Following technical and financial analysis, the cyber police identified and arrested eight accused from different locations. The accused were produced before the court and remanded to police custody until February 16, 2026.
During the investigation, police have successfully frozen Rs 3.24 crore of the defrauded amount.
Further investigation is underway to trace additional bank accounts and recover more funds, officials added.
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