Pune Cyber Fraud Alert: Two City Youths Cheated of Rs 51.16 Lakh Through Fake Stock Market, Online Task Scams

Cyber fraudsters have duped two young men from Pune of a combined Rs 51.16 lakh by trapping them through fake stock market investment schemes and deceptive online tasks. The incidents have raised serious concerns about the growing menace of cybercrime, with separate cases registered at different police stations. The fraudsters allegedly used social media and messaging platforms to approach the victims, promising high returns and easy income. Police have begun investigations in both cases and are urging citizens to remain cautious while dealing with unknown individuals or digital investment platforms that offer unrealistic profits.

In the first case, a youth residing in the Manjari Khurd area was contacted by cyber criminals in September with an offer to invest in the stock market. He was assured of huge and guaranteed returns and was persuaded to register on a trading-related mobile application. Initially, the fraudsters returned small profits on his investments, successfully gaining his trust. Encouraged by these early returns, the youth continued transferring money. Over time, he deposited a total of Rs 46.33 lakh into bank accounts provided by the accused, believing his investment was growing steadily.

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However, the situation changed when the promised returns suddenly stopped. When the youth attempted to withdraw his funds or contact the operators, he received no response. Realising that he had been cheated, he approached the Wagholi police station and lodged a complaint. Based on his statement, police registered a case under relevant sections of the Information Technology Act and cheating laws. Senior Police Inspector Yuvraj Hande is currently leading the investigation, and efforts are on to trace the bank accounts and digital trail used by the fraudsters.

In another similar incident, cyber criminals targeted a youth from the Sinhagad Road area by offering work-from-home online tasks. Initially, he was given small assignments and was promptly paid, which strengthened his confidence. Later, the accused claimed that investing higher amounts would result in larger profits. Trusting their claims, the youth transferred Rs 4.83 lakh. When no returns followed, the fraud was exposed, and a case was registered at Warje police station. Police have appealed to the public to avoid “assured return” schemes, verify apps thoroughly, and never send money to unknown sources.