Pune: Wakad Contractor Loses Rs 3.25 Crore With Fake Website Of Share Market Firm
Wakad, 22nd January 2024: In a cunning act of cybercrime, fraudsters devised a fake website and mobile app mimicking a reputable online share market broking firm. Their elaborate ruse successfully swindled a Wakad-based contractor of a staggering Rs 3.25 crore, all under the guise of enticing investments in two IPOs.
The contractor fell victim to the scam, transferring the substantial sum through 16 transactions to five different bank accounts between December 20 of the previous year and January 10 of the current year. Unbeknownst to him, the entire operation was a sham.
The elaborate deception unraveled when the contractor, in a routine check, contacted the legitimate firm directly. To his shock, he discovered that the website and app he had been using were fraudulent. Losing no time, the victim promptly filed a complaint with the Wakad police on Friday.
According to an officer from the Wakad police, the contractor had intended to invest in two IPOs through a financial institution. During his online search, he stumbled upon the seemingly authentic website of a renowned online share broking firm.
Upon contacting the phone number listed on the site, a person, posing as a financial consultant, reassured the contractor and lured him into transferring Rs 10 lakh to a specified bank account on December 20. The victim, having downloaded the deceptive app, could even observe his portfolio.
Caught in the web of deceit, the contractor continued to transfer Rs 3.15 crore to various bank accounts provided by the fraudsters. The app consistently displayed a misleading figure of Rs 8 crore due to him.
When the victim attempted to withdraw the funds, he encountered an insurmountable obstacle. Subsequent investigations have revealed that the ill-gotten money was routed to bank accounts in Nagercoil (Tamil Nadu), Narsipatnam and Ongole (Andhra Pradesh), Nallakunta (Telangana), and Deesa (Gujarat). The Wakad police are diligently working to apprehend the cybercriminals responsible for this sophisticated scam.
