Pune businessman loses Rs 7 crore in fake online forex investment scheme
A Pune businessman told cyber police he was lured into sending over Rs 7 crore through a Telegram-linked trading platform. The complaint has prompted a probe into bank accounts, mobile numbers and a suspected organised fraud network.
A 53-year-old businessman from Pune allegedly lost more than Rs 7 crore in an online currency trading scam after cyber fraudsters lured him with promises of high returns through a Telegram group. According to the officials, the businessman approached the cyber police and lodged a complaint after allegedly being cheated of Rs 7 crore over several months.
Investigators said the victim was first contacted by the accused through Telegram in October 2025. The fraudsters allegedly convinced him to invest in online currency trading and shared a link to a platform identified as “PU Prime”, asking him to create an account for trading activities.
After the registration process, the accused allegedly provided multiple bank account details and instructed the businessman to transfer money in phases for investments and trading operations.
Deputy Commissioner of Police Vivek Masal said the victim transferred over Rs 7 crore through multiple online transactions between October 10, 2025 and April 4, 2026.
Police said the businessman continued investing after being promised substantial profits and returns. However, despite repeated transactions, he allegedly did not receive any payout or withdrawal from the platform.
Realising he had been cheated, the businessman later approached the cyber police, following which a case was registered against unidentified persons under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act.
Officials said investigators are now tracing the Telegram account, bank accounts and mobile numbers allegedly used by the fraudsters during the scam. Police suspect the accused may be part of a larger organised cyber fraud network operating through social media and online investment platforms.
Cybercrime incidents have witnessed a sharp rise in Pune in recent years. According to National Crime Records Bureau (NCRB) data, the city recorded 357 cybercrime cases in 2022. The number rose to 487 cases in 2023 and surged further to 1,504 cases in 2024.
Police have urged citizens to remain cautious while investing through online platforms and avoid transferring money based on unsolicited investment offers received through social media or messaging applications.