Techie loses Rs49 lakh to cybercrooks in online share trading fraud

Pune: A 33-year-old software engineer from Hinjewadi lost Rs49 lakh to cybercrooks in a share trading fraud between August and September.
The techie filed an online complaint immediately after realising that the crooks had duped him. A case was registered with the Hinjewadi police, after preliminary investigations.
An investigation officer from the Hinjewadi police said the software engineer worked with a prominent software company in Hinjewadi."He came in contact with the crooks through a social media platform in August this year," he said.
He said the crooks made the software engineer download an app similar to the name of a renowned finance company for trading. "He was also added to a VVIP group of investors on a cellphone mobile messenger app. The crooks claimed that he would get the right tips for investments in the group," he said.
The officer said the techie then went on transferring money for investing in shares. "The techie transferred Rs49 lakh to different bank account numbers provided to him. When he tried to withdraw his money and the profit amount through the app, he was unable to do that," he said.
The investigating officer said the techie traced the finance company's customer care number and contacted the officials. "The techie was told that it was not the company's app. He then contacted the admin of the group, who told him that his account of the app was blocked and demanded Rs5 lakh more to restart it," he said.
The officer said the techie then realised that he was being duped and stopped responding to the crooks. "We have registered the case under relevant sections of the Bharatiya Nyaya Sanhita (BNS), and Information and Technology Act. We have sought details of the transactions from the complainant's bank," he said.