Pune Tax Consultant Duped of ₹53 Lakh in Fake Share Trading Scam, Cyber Police Probe Underway

Pune-based tax consultant loses ₹53 lakh in fake share trading scam after being lured through online group and fake investment app.

Pune, April 21, 2026: A 41-year-old tax consultant from Wagholi in Pune has fallen victim to a sophisticated online share trading scam, losing over ₹53 lakh to cyber fraudsters who lured him through a fake investment network. According to police, the victim was added to an online messaging group where members regularly posted fabricated success stories and screenshots of high returns to build credibility. Gaining his trust, the scammers persuaded him to download a trading app via an external link, where initial small investments appeared to generate profits. Encouraged by these fake gains, he continued investing larger amounts over time, eventually transferring ₹53.3 lakh into multiple accounts provided by the accused. However, when he attempted to withdraw the funds, the app blocked transactions and the fraudsters cut off communication, exposing the scam. The fraud, which reportedly unfolded over several months in 2025, came to light when the victim approached cyber police earlier this year. A case has been registered, and authorities are now tracing the accused and following the money trail. Officials have reiterated warnings against trusting unsolicited investment offers on social media, downloading unknown apps, or believing schemes promising guaranteed returns, as such scams continue to rise across urban centers.

The incident highlights how convincingly cybercriminals operate today, making awareness and caution essential to avoid falling prey to online investment frauds.

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