Rs 1.2 Crore Scam: Pune Businessman Loses Big to Online Share Trading

Beware of Fake High Returns!

In a major online scam, fraudsters tricked a Pune businessman out of a whopping Rs 1.2 crore! This incident highlights the dangers of investment scams that lure people in with promises of huge returns.

What Happened?

The victim, a 55-year-old resident of Bhavani Peth, was contacted by scammers in February 2024. These fraudsters enticed him with a scheme promising high profits through online share trading.

Red Flags of the Scam

Here’s how the scam unfolded:

• Contact: The businessman was lured through unspecified means, possibly a phone call or message.
• Fake Profits: The scammers dangled the carrot of significant returns on investments in share trading.
• Phony Platforms: The victim was likely directed to a fake online trading platform or app.
• Multiple Transactions: Over a period of two months, the businessman, believing he was making real investments, transferred a total of Rs 1.2 crore through ten online transactions. He even used his sister’s account to fuel the scam.

The Aftermath

Unfortunately, after transferring the money, the businessman realized he wasn’t going to see any returns on his “investments.” He eventually filed a complaint with the Pune Cyber Police Station.

Stay Scam-Safe!

This incident serves as a stark reminder to be cautious of unsolicited investment offers, especially those promising unrealistic returns. Here are some tips to avoid falling victim to online scams:

• Verify the Platform: Always research the legitimacy of any online trading platform before investing.
• Don’t Rush: Take your time and understand the investment before committing any money.
• If it Sounds Too Good… Be wary of offers that seem too good to be true.
• Report Suspicious Activity: If you suspect a scam, report it to the authorities immediately.

By staying informed and vigilant, you can protect yourself from falling prey to online scams. Remember, if someone is pressuring you to invest quickly or guaranteeing high returns, it’s a major red flag.