‘ ₹54 crore return in 11 days’: Pune doctor loses ₹12.31 crore in chilling stock scam

A 75-year-old doctor in Pune lost ₹12.31 crore in a sophisticated online stock scam promising unrealistic returns.

Published on: Apr 9, 2026, 17:18:02 IST

By Yamini C S

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A 75-year-old doctor in Pune has lost around ₹12.31 crore in a sophisticated online stock trading scam after being lured with promises of massive returns, police said.

Lured by fake executives and fabricated profits, the victim was manipulated into transferring funds until he realized it was a scam. (Pexels)

The fraud began in the last week of January when the doctor received a message from an unknown number listing “recommended” stocks along with a link. After clicking it, he was added to a WhatsApp group where administrators posed as senior executives of a global financial firm, with one claiming to be an author on stock market dynamics, according to a PTI report.

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Police said the group was designed to appear credible, with several members, believed to be part of the scam, sharing messages of high profits to build trust. The victim was also promised that his investment could grow rapidly, with claims of returns as high as ₹54 crore within 11 days.

“After expressing interest, the doctor was directed to a fraudulent trading application resembling the name of a reputed international firm. He was asked to share personal and financial details before being instructed to transfer funds to multiple bank accounts,” police said, adding that the amounts transferred were reflected as investments on the fake platform, along with fabricated profits, as per the report.

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Between March 7 and March 18, the doctor made eight transactions, transferring a total of ₹12.31 crore to different bank accounts provided by the accused, police said. When he hesitated to invest more, the fraudsters allegedly threatened to seize his properties, forcing him to continue sending money.

The fake application later displayed notional returns of ₹54 crore. However, when the doctor attempted to withdraw funds, he was again threatened, at which point he realised he had been cheated, police said, according to the report.

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An FIR has been registered at the cyber police station following his complaint, and efforts are underway to trace the accused and track the money trail, police added.

(With inputs from PTI)

ABOUT THE AUTHOR
Yamini C S
Yamini CS is a Senior Content Producer at Hindustan Times with nearly six years of experience in digital journalism. She is part of the India News desk, where she works on a wide range of stories cutting across civic issues, city-based developments, politics, governance, public policy, breaking news, trending topics, and international affairs that have an impact on India. Her role involves tracking fast-moving developments, verifying information from official and on-ground sources, and presenting news in a clear, accessible format for a digital-first audience. A significant part of her work includes handling live blogs during major news events, such as elections, court verdicts, political developments, civic disruptions, protests, weather-related alerts, and unfolding national or international incidents. Through live coverage, she focuses on timely updates to help readers follow complex stories as they evolve. Before moving to the broader India News desk, Yamini was associated with the Bengaluru desk at Hindustan Times, where she extensively covered urban governance, infrastructure, traffic and transport issues, weather events, public grievances, and civic administration in the city. This experience strengthened her grounding in city reporting and sharpened her focus on citizen-centric journalism. She began her career as a correspondent with Reuters after completing a postgraduate diploma in journalism from the Indian Institute of Journalism and New Media. Her early training instilled a strong emphasis on accuracy, sourcing, and news ethics, which continue to shape her reporting style. Outside of work, Yamini enjoys reading across genres, listening to music, and spending time with her family, which help her maintain balance in a fast-paced newsroom environment.Read More

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