Pune: Wakad Resident Scammed of ₹20.85 Lakh In Online Trading Fraud

In a case of online trading fraud, scammers managed to con a man out of a substantial ₹20.85 lakh between July 4 and August 12 in Pune.

Amit Madanrao Kate, a 39-year-old Wakad resident originally from Nagpur, was the unfortunate victim who promptly reported the incident to the police. Subsequently, a case was registered against three individuals named Kevin, Lisa, and Warren, whose full names and addresses remain unknown, along with the UPI ID holder responsible for the money transfers.

According to preliminary police findings, the scammers added the victim's mobile number to a WhatsApp group and initiated their deceptive scheme by sending a link. They convinced the victim to download an app under the pretence of engaging in profitable online trading. After the victim made an initial payment, the scammers fabricated a deposit of over ₹1 crore in the victim's trading account.

To withdraw this supposed fortune, the scammers claimed a 10% tax was required, ultimately extracting a total of ₹20.85 lakh from the victim. Unfortunately, the promised amount was never returned, leaving Kate in financial distress.

The Wakad police have launched an investigation into the matter.