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

A 37-year-old IT professional from Balewadi, Pune, lost over ₹40 lakh to a fake online gold investment scheme, highlighting a new twist in cyber fraud methods.

Cyber FraudOnline Gold InvestmentIt ProfessionalBaner Police StationGold Trading AppReal Estate PuneMay 16, 2025

Pune IT Professional Duped of Rs 40.26 Lakh in Online Gold Investment Scam
Real Estate Pune: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.

Frequently Asked Questions

What is the new twist in cyber fraud methods mentioned in the article? A: The new twist involves scammers moving beyond stock trading scams to fake online gold investment schemes. Q: How did the scammers approach the victim? A: The scammers approached the victim through a popular messaging app and shared a link to a fake gold investment platform. Q: How much money did the IT professional lose? A: The IT professional lost over ₹40.26 lakh to the fake online gold investment scheme. Q: What advice did the police give to the public? A: The police advised the public to remain cautious of unsolicited investment offers shared via social media or messaging apps and to verify before investing, especially when promised unusually high profits. Q: What are the police doing to track the scammers? A: The police are tracking the financial trail to identify the recipients of the transferred funds and determine if the same group is linked to similar frauds reported in other parts of the city.

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