Wakad Police Register Case After IT Engineer Loses Rs 90 Lakhs in Pimpri Chinchwad

Wakad, 30th September 2024: A fraud was committed in Pimpri Chinchwad, resulting in a loss of over Rs 90 lakhs, by enticing an IT engineer with promises of substantial returns in the stock market. The engineer was misled into believing he had achieved a fake profit of over Rs 7 crore. The online fraudsters also falsely claimed that the organization through which he was buying was registered with the Securities and Exchange Board of India (SEBI). This incident took place in Rahatani between 10th April and 18th July, through online channels.

The 41-year-old IT engineer filed a complaint at the Wakad Police Station. A case has been registered against the holders of the phone number 8986513634, Anjali Sharma and Naresh Rathi. The charges include BNS Sections 318(4) (cheating and dishonestly inducing the delivery of property), 319(2) (cheating by personation), and 3(5) (acts done by several individuals in furtherance of common intention), along with the relevant sections of the Information Technology Act of 2000.

According to police reports, the accused, Anjali, sent a link via WhatsApp to the complainant, asking him to fill in his personal information. He was subsequently added to a WhatsApp group, where members were advised to observe or buy particular stocks. A link was shared, falsely claiming that the group was SEBI-registered. The complainant was then asked to download an application called OTC on his phone.

After gaining his trust, the accused coerced him into transferring Rs 91,63,000 into various bank accounts. The accused falsely claimed that Rs 7,19,47,114 had accumulated from his investments. When the complainant tried to withdraw the funds, the accused demanded additional payments. Realizing he had been cheated, the complainant reported the matter to the police. Police Sub-Inspector Salunkhe from Wakad Police Station is investigating the case further.