February 24, 2024

PUNE: A contractor in Wakad, Pune, has been duped of a staggering Rs 3.25 crore by cybercrooks who posed as representatives of a well-known online share broking firm. The elaborate scam involved creating a fake website and mobile app, luring the victim with promises of high returns on investments in two upcoming IPOs.

Deceptive Website and App Lure Victim

The victim, who wished to remain anonymous, was looking to invest in IPOs and stumbled upon the fake website while searching online. Believing it to be genuine, he contacted the phone number listed on the site and was connected with a woman posing as a financial consultant.

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Lured by High Returns, Victim Makes Multiple Transfers

The woman, playing the part of a friendly and helpful advisor, convinced the victim to invest Rs 10 lakh initially. He transferred the money to a bank account provided by the scammers and even downloaded a fake app that displayed a seemingly real portfolio with his investment.

Blinded by the promise of high returns, the victim made a series of 15 more transfers over the next few weeks, totaling Rs 3.15 crore. The app, designed to deceive, continuously updated with inflated figures, showing the victim a total of Rs 8 crore as his due amount.

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Reality Sets In, Fraud Uncovered

When the victim attempted to…

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