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Retired medical researcher loses ₹96.5 lakh in online share-trading fraud in Pune


Retired medical researcher loses ₹96.5 lakh in online share-trading fraud in Pune
An abstract illustration of a share-trading con

Pune: Online fraudsters lured a retired medical researcher (78) by promising him handsome returns in share-trading and duped him of Rs 96.5 lakh between June 28 and Aug 3.The retired researcher, who headed several key medical organisations of the Indian govt and an international public health organisation, is a resident of Kothrud.He lodged a complaint with the Pune cyber police on Tuesday. The police have tracked several mule bank accounts in which Rs 96.5 lakh was transferred. The police froze accounts containing a total of Rs 24 lakh.Swapnali Shinde, senior inspector of the Pune cyber police station, said, “We have registered a case, and further investigation is underway.”According to the FIR, the complainant received a message on a messaging application. The message contained an advertisement for a share-trading agency. He clicked on the link provided in the advertisement.As soon as he clicked on the link, the FIR stated his cellphone number was added to a group on the messaging application, where members discussed the high profits they had allegedly earned through online share trading.The 78-year-old man read these messages and was impressed. The members regularly consulted the group administrator about share trading.The police said the retired researcher then contacted the group administrator, who sent him a link to a mobile app for share-trading. He downloaded the application and started buying shares. The fraudsters then contacted him and asked him to invest in high-value shares and initial public offerings (IPOs), promising to help him in the process.The fraudsters subsequently shared details of 10 bank accounts with him. He went on to transfer a total of Rs 96.5 lakh to these accounts. While the application showed huge profits, he could not withdraw any money and lost it all.



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