Pune: Three cases of financial fraud have emerged in Pune, where individuals were deceived into investing in the stock market with the promise of high returns. Complaints have been registered at Vishrantwadi, Kharadi, and Wagholi police stations regarding these fraudulent activities.
A major online scam worth ₹4.22 crore was reported at Vishrantwadi Police Station. The complainant, Neha Jain (38, resident of Dhanori, Pune), lodged a complaint against an unidentified UPI and bank account holder.
According to the police, the accused lured Jain by promising a 450% return on stock market investments. She was sent an online link and instructed to download an app called ‘HEM P.’ Through this app, she was directed to transfer money into multiple accounts. Initially, she was made to believe she was earning profits, but ultimately, she received no returns, resulting in a loss of ₹4.22 crore between January 7 and January 30.
A case has been registered under various sections of the Bharatiya Nyaya Sanhita (BNS) and IT Act. The investigation is being led by Senior Police Inspector Jadhav.
₹10 Lakh Fraud Reported in Kharadi
In the second case, a fraud worth ₹10 lakh was reported at Kharadi Police Station. The complainant, China Ankit Jain (40, resident of Kharadi, Pune), filed a complaint against Ayush Singh from Ghaziabad, Uttar Pradesh.
The accused, between March 2024 and March 29, 2025, convinced the complainant to invest in his company by promising high returns. He assured Jain that the investment would bring monthly payouts and company shares. Gaining the complainant’s trust, he gradually collected ₹10 lakh but failed to provide any returns or shares.
A case has been registered, and the investigation is being conducted by Assistant Police Inspector Khandekar.
₹8.33 Lakh IPO Investment Scam in Wagholi
The third case involves an ₹8.33 lakh fraud reported at Wagholi Police Station. The complainant, Khushbu Rajinder Hooria (37, resident of Wagholi, Pune), filed a complaint against multiple unknown mobile and bank account holders.
Between January 2025 and March 8, 2025, the accused promised high profits through discounted stock purchases and IPO investments. They claimed that investing through American Century Investments and New Mora Trading Platforms would yield significant returns. Initially, small profits were given to gain trust, but later, the complainant lost ₹8.33 lakh.
A case has been registered, with Senior Police Inspector Hande leading the investigation.
Authorities Warn Against Investment Scams
Authorities urge citizens to be cautious while investing in online trading platforms and report any suspicious activities to the police. They advise investors to verify investment opportunities and avoid falling for schemes promising unrealistic returns.
