Case registered against trio for duping two of Rs 22 lakh in share trading fraud

Pune: The Nigdi police have booked three individuals for allegedly defrauding a 23-year-old man and his friend of Rs22 lakh under the pretext of providing high returns on stock market investments.The fraud reportedly spanned a two-year period, from Oct 2023 to Oct 2025. Based on the victims’ complaint, the police registered a case under Section 318 (cheating) of the Bharatiya Nyaya Sanhita (BNS) and relevant sections of the Information Technology Act.According to the police, the complainant and the accused were known to each other. The suspects allegedly lured the duo into investing by promising a guaranteed profit of at least 8%.

To facilitate the investment, the trio directed the victims to a specific website.“Trusting the acquaintances, the duo transferred a total of Rs22 lakh to various bank accounts provided by the suspects,” said an officer from the Nigdi police. “While the website displayed lucrative virtual profits on their dashboard, the victims were blocked from withdrawing any funds when they attempted to do so.”Initially, when the victims questioned the withdrawal issues, the trio offered verbal assurances that the money would be returned.

However, they soon began avoiding the victims’ calls and messages.After repeated attempts to recover their capital failed, the duo approached the authorities. “A formal case has been registered and our investigation is currently underway to track the money trail and the individuals behind the website,” the officer added.