Fake Trading Apps Dupe Two Citizens Of Rs 3.14 Crore Cyber Fraud In Pune's Pimpri Chinchwad

The Pimpri Chinchwad Cyber Police have lodged charges against 9 individuals in two separate cyber fraud-related cases in which the victims lost over Rs 3 crores on Friday. 

According to an FIR, a 54-year-old complainant from Mahalunge was asked to join WhatsApp groups, namely '310 Bulls & Chai 'and '305 Bulls & Chai', and was convinced that share trading through these groups would yield returns of 40 to 50 per cent.

The victim was later asked to onboard on the Calvert App and send investment tranches to multiple accounts. Moreover, the application showed fake profit numbers in its display balance, to which the complainant lost Rs 2,24,70,000.

In another similar case, as per the FIR filed with the Pimpri Chinchwad Cyber Police, the victim, a resident of Pune’s Ravet area, was asked to join the ‘E11 Kotak helps you achieve your dreams’ WhatsApp group and was asked to invest in a fake share market trading app named ‘Kotak QIB’, which displayed a profit of Rs 8,71,00,000. 

However, when the complainant went on to withdraw the amount through the Kotak QIB app, he was further asked to pay service tax. In the whole process, the complainant lost Rs 89,35,305 in the cyber fraud. 

The Pimpri Chinchwad Cyber Police have registered FIRs on Friday with charges under Section 316 (2), 318(4), 3(5) of the BNS, 2023 and Section 66(C) and 66(D) of the IT Act, 2000, in both the above-mentioned cases.