Pune: Businessman Scammed of Rs. 5 Crore In Forex Trading Scheme; Online Trading Fraud Targets Another Resident

A 67-year-old businessman residing in Munkundnagar, Pune, has become the victim of a financial scam orchestrated by five individuals. In his complaint lodged at Sahakarnagar Police Station on Thursday, the victim disclosed that he was enticed into investing in their company through forex trading, with promises of substantial returns ranging from 10 to 14 percent.

As per police information, the accused devised a scheme to convince the businessman, Dilip Naik, that investing in their company through forex trading would yield lucrative returns. Yielding to their persuasion, Naik invested in international currency trading. However, post-April 2023, the promised returns were not honoured. Only Rs. 2.80 lakh was returned, and the remaining original investment was withheld. The accused further defrauded Naik's associates, Umesh Ulvi and Prakash Sharma.

Sahakarnagar Police Station has initiated a case of financial fraud against the accused, involving a staggering amount of Rs. 5 crore. Assistant Police Inspector S Vairagkar is leading the ongoing investigation.

Second fraud

In a separate incident, Rukhsar Akhtar Sheikh, a 29-year-old resident of the Camp area, Pune, fell victim to an online trading scam orchestrated by unknown individuals named Rajesh Das and Nandini. Utilising a Telegram account, the fraudsters persuaded Sheikh to invest in online trading via a link. This resulted in Sheikh losing a total of Rs. 1 lakh.

Lashkar Police Station has registered a case against the accused, highlighting the risks associated with online trading.