Woman loses Rs53 lakh in online share-trading fraud

Pune: A Narhe-based woman (46) lost Rs52.7 lakh in an online share-trading fraud between Jan 30 and April 2.The woman lodged a complaint with the Pune cyber police on Wednesday. An officer from the Pune cyber police said the complainant's husband was the director of a software company in Hinjewadi. In Jan, the woman came across an advertisement about investing in an IPO. When she contacted the cellphone number mentioned in the advertisement, she was assured maximum profit with minimal investment in the stock market."The crooks shared a link with her and requested her to download their firm's trading app to make investments and monitor profit," the officer said.He said the crooks initially took small amounts from the woman to purchase IPOs and trading. They gained the woman's confidence by showing in the app that she was earning a profit on her investments."The crooks then lured the woman by offering more profit by investing bigger amounts. The woman transferred Rs52.72 lakh to different bank account numbers provided to her," he said.The officer said the woman, however, was unable to withdraw her money. When she started pursuing the crooks for her money, they stopped responding to her. The woman realised that she was being duped and approached the police."We have sought details of the transactions from the complainant's bank," the officer said.
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