📷 Image: TOI City (via NewsData)
Crime
Pune Techie Loses Rs 2.17 Crore to Fake Trading App Scam
✍️ TOI City
🗓 29 Oct 2026, 12:43 PM
👁 1
A 47-year-old software engineer from Pune's Tathawade lost Rs 2.17 crore after falling victim to a fraudulent trading app posing as an Indore-based firm.
A 47-year-old software engineer residing in Tathawade, Pune, has fallen victim to a sophisticated investment scam, resulting in a loss of Rs 2.17 crore. The victim was lured into the scheme through a fraudulent mobile application that falsely presented itself as a legitimate trading firm based in Indore.
The suspects initially gained the engineer's trust by showcasing fabricated documents and displaying impressive, albeit fake, portfolio growth figures. Encouraged by these false signals of profit, the victim transferred substantial sums of money into various bank accounts designated by the scammers.
The fraud was uncovered when the engineer attempted to liquidate his portfolio to withdraw his funds. Unable to access his money, he realized the app was a scam and reported the incident to the authorities.
Police are currently investigating the case, tracing the financial transactions linked to the fraudulent app to identify the masterminds behind the operation.
The suspects initially gained the engineer's trust by showcasing fabricated documents and displaying impressive, albeit fake, portfolio growth figures. Encouraged by these false signals of profit, the victim transferred substantial sums of money into various bank accounts designated by the scammers.
The fraud was uncovered when the engineer attempted to liquidate his portfolio to withdraw his funds. Unable to access his money, he realized the app was a scam and reported the incident to the authorities.
Police are currently investigating the case, tracing the financial transactions linked to the fraudulent app to identify the masterminds behind the operation.