Archive · 25 Aug 2026
Pune Man Loses Rs 2.3 Crore in Fake Stock Scam
A man in Pune saw an online advertisement that appeared to show Nirmala Sitharaman supporting stock trading.
He clicked it and was contacted through WhatsApp by people claiming to offer investment help.
They created an account for him on a fake website.
The website showed that his money was growing.
The scammers even sent him Rs 74,000 as fake profits, which made him trust them.
He then sent much more money to several bank accounts.
When he tried to take out his money, the scammers demanded another Rs 2.5 crore.
He became suspicious and reported the fraud to the police.
Police warn people to check whether investment services are registered and never send money to unknown accounts.
An elderly Pune realtor and former pharma executive allegedly lost Rs 2.3 crore in a stock-trading scam.
The fraud began after he clicked a Facebook advertisement featuring Union Finance Minister Nirmala Sitharaman’s photograph.
Fraudsters used a fake trading platform, displayed supposed profits, and initially transferred Rs 74,000 to gain his trust.
The victim made 14 transfers between July 7 and July 30 to mule accounts across five cities.
Pune cyber police are investigating, while authorities warn against unverified platforms, social-media links, and withdrawal-fee demands.
- Who
- An elderly Pune realtor and former pharma executive was allegedly defrauded by people posing as stock-trading advisers.
- What
- He allegedly lost Rs 2.3 crore through a fake stock-trading platform after making 14 transfers.
- When
- The fraud began on May 25; the recorded transfers occurred between July 7 and July 30.
- Where
- The victim was in Pune, while the money went to mule accounts in Delhi, Hyderabad, Chennai, Pune, and Vadodara.
- Why
- The fraudsters allegedly used a Facebook advertisement featuring Nirmala Sitharaman, fake profits, and a professional-looking platform to gain his confidence.
- Reported loss
- Rs 2.3 crore
- Initial contact
- A Facebook advertisement featuring Nirmala Sitharaman’s photograph
- Communication channel
- Transactions
- 14 transfers between July 7 and July 30
- Supposed account value
- Rs 6.5 crore, according to the fake platform
- Additional demand
- Rs 2.5 crore to withdraw the supposed investment
- Investigation
- Pune city cyber police are investigating the complaint