Pune: A 22-year-old Chikhali man was conned out of Rs 83.8 lakh in an online share trading fraud between Feb and June this year. He lodged a complaint with the Pimpri Chinchwad cyber police on Tuesday.Senior police inspector Ravikiran Nale told TOI that the complainant’s father runs an oil business in Chakan MIDC. After completing graduation, he started helping his father in the business. He was also looking for opportunities to invest in the stock market and earn profits.“In Feb this year, the crooks contacted him through a social media platform and assured him of a 500% profit on his share investments through them,” Nale said.He said the crooks gained his confidence by claiming that their firm was recognised by the Securities and Exchange Board of India (SEBI). They shared a link with him and had him download an app to invest and monitor his profits.“They took money from the complainant to different bank accounts under the pretext of investments in the stock market, IPOs and even foreign shares,” the officer said.He said the complainant invested money borrowed from his father. He could see on the app a profit earning of Rs 20 lakh on his investments. When he tried to withdraw the money, the cybercrooks demanded more, citing filing fees, conversion fees, capital gains tax, insurance, SEBI charges, licence fees, GST and brokerage.“In total, the complainant transferred Rs 83.8 lakh to different bank accounts provided to him. The crooks, however, did not return his money and duped him,” Nale said.The officer said police had sought details of the transactions from the complainant’s bank. “Our investigation is on,” he said.
