Pune: A 45-year-old design engineer from Warje was allegedly cheated of Rs 1.01 crore by cyber fraudsters who promised lucrative returns through online share trading, Pune cyber police said.The fraud took place between July and October last year, and the victim lodged a complaint in January. After verification, the police registered a formal FIR on Saturday.Police said the victim’s phone number was added to a messaging group where members discussed high returns from share trading. Impressed by the claimed profits, the victim contacted the group admin, who shared a link to a mobile application for trading shares. Initially, the victim traded low-value shares but earned minimal profits. The admin then persuaded him to invest in high-value shares and IPOs, promising assistance with transactions.Over three months, the victim transferred money to eight bank accounts provided by the admin, using his savings and borrowed funds. In total, he sent Rs 1.01 crore. When he later attempted to sell the shares, the accused blocked him from doing so. Realising he had been cheated, the victim approached the cyber police, who have begun investigations into the scam.
