Pune IT Professional Duped of Rs 40.26 Lakh in Online Gold Investment Scam

Balewadi: A 37-year-old IT professional from Balewadi lost over ₹40 lakh to a fake online gold investment scheme, in a case that marks a new twist in the modus operandi of cyber fraudsters who have moved beyond stock trading scams. The victim filed a formal complaint at Baner Police Station on Wednesday, alleging that he was tricked into investing in bogus gold schemes between July and August last year. Senior Inspector Chandrashekhar Sawant of Baner police confirmed the development. “The scammers approached the complainant through a popular messaging app and shared a link, claiming it would help him invest in gold through a secure online platform with guaranteed high returns,” he said. Believing the offer to be legitimate, the techie downloaded the recommended trading app. The app featured multiple bank accounts under the pretext of investment channels. Without suspecting foul play, the man transferred a total of ₹40.26 lakh into four separate accounts over two months. “In his effort to make more returns, he not only emptied his savings but also borrowed funds from friends,” added Inspector Sawant. Police suspect that the app was designed to simulate real-time gold trading activity to appear authentic and encourage further investments. Investigators are now tracking the financial trail to identify the recipients of the transferred funds and determine whether the same group is linked to similar frauds reported in other parts of the city. Authorities have once again urged the public to remain cautious of unsolicited investment offers shared via social media or messaging apps. “Verify before you invest—especially when promised unusually high profits,” said Sawant.