Pune WhatsApp Trading Scam:
In Maharashtra's Pune, the cyber police have launched an investigation into the city's largest cyber fraud case to date. An 85-year-old retired businessman has been defrauded of Rs. 22.03 crores. The elderly victim, a resident of the Hadapsar area, fell prey to this scam from October till January 12. The Economic Offences Wing (EOW) is meticulously examining the entire network. It was reported that the amount was siphoned off through an online share trading scam, marking Pune's cyber police's biggest case since January 2023.
The Deceptive Link Game
Investigations revealed that the scammers drew the elderly victim into their trap via a WhatsApp link, adding him to a group that promised extraordinary stock market profits. Individuals posing as investment experts shared daily profit screenshots, slowly winning the victim's trust with their false claims. They displayed that invested amounts were supposedly doubling in a short time.
Fake Dashboard, Doubled Profits
Accused showcased a fake trading dashboard on WhatsApp, misleading the victim with apparent profits on his investments, making him believe his money was secure. In reality, all data was entirely fabricated. Whenever the victim tried to withdraw funds, excuses of technical difficulties were made to show transaction failure. Suspicions of foul play began here.
Funds Distributed Across 150 Bank Accounts
According to EOW officials, the victim transferred money to approximately 150 different bank accounts spread across seven banks in cities like Noida, Bangalore, and Kolkata. Police suspect most of these were 'mule accounts', used solely to swindle the funds. The vast number of accounts points towards an organized crime syndicate.
Drained Assets
The elderly victim gambled away his lifetime savings in greed. He exhausted not only his savings but even sold movable and immovable properties. After his business shut down years ago, he relied entirely on his accumulated funds. The promise of profit in share trading overdrove his rationale, leaving him empty-handed in the end.
Bank Warnings Ignored, Yet Continued Transfers
Police revealed that the bank issued multiple alerts concerning suspicious transactions and advised verifying beneficiary accounts. Yet, the victim persisted in transferring money, ignoring these warnings. This negligence expanded the extent of this cyber fraud.
Family Unaware of the Scam
In a surprising twist, the victim kept this investment secret from his family. His son and daughter-in-law, both software engineers at Pune IT companies, were oblivious to the scam despite their technical background. By the time reality surfaced, it was too late. This highlights how cyber crooks mentally isolate elders.
26 Mobile Numbers, Multiple Trading Apps
EOW's DCP stated that at least 26 mobile numbers were utilized, including internet-based virtual numbers. Several fake trading apps facilitated this scam, structured with professional precision, making this Pune cyber police's most challenging case.
Prior Rs. 15.3 Crore Fraud from NBFC
A case of fraud was registered against nine culprits in this instance, who were previously arrested in a separate cybercrime case. They were accused of defrauding a Pune NBFC of Rs. 15.3 crores by misusing internet banking credentials. Both cases might be linked to a single network.
Perilous Pattern of WhatsApp Scam
Police affirm this isn't new but a repetition of the WhatsApp link scam. The only difference is this time, an 85-year-old man became the victim. Luring people with prospects of hefty stock market gains is a recurring tactic by fraudsters. Citizens are urged to steer clear of dubious links or groups, for a little greed could pilfer a lifetime's earnings.
