A Pune businessman was defrauded of Rs 27.2 lakh through fraudulent online share trading.

From October 16 to November 5, a 50-year-old businessman from Pune's Market Yard lost Rs 27.2 lakh as a result of falling prey to an online share trading scam. After the victim's report was verified by the city cybercrime police, a formal complaint was filed with the Market Yard police on Friday.

According to Inspector Rahul Khilare, who is looking into the matter, the businessman got two links on social media that promised him big profits from selling shares online. Attracted by the promise, he made an initial investment of Rs 50,000 and received a return of Rs 8,000, which increased his trust in the plan.

The app showed substantial gains, and the victim proceeded to deposit increasing sums, encouraged by the apparent success. However, he found that the platform prohibited such transactions when he tried to withdraw the invested money and earned profits. The victim was unable to get his money back after the scammers abruptly stopped communicating.

When the businessman realized he had been tricked, he went to the authorities to ask for assistance. To find the criminals and get the money back, the police have started an inquiry. Inspector Khilare advised the public to exercise caution when it comes to online investment schemes, especially those that are disseminated through social media, and to confirm the legitimacy of these platforms before participating.This instance emphasizes how common cybercrime is becoming and how crucial it is to exercise caution while transacting financially online.

Follow cyberdeepakyadav.com on

 Facebook, Twitter, LinkedIn, Instagram and YouTube