Pune techie travels to Indore firm, realises he lost Rs 2.17 crore lost in stock scam

A 47-year-old Pune-based software engineer lost Rs 2.17 crore in a stock market scam after being duped by fraudsters over several months. The fraudsters used a WhatsApp group, fabricated investment records, and promises of high returns to win his trust. The victim was enticed by an Instagram advertisement and later directed to a WhatsApp group named 'Capital Strategy Community', where members shared stock market tips and purported profits.

He was then convinced to download an app displaying a fake SEBI certificate and directed to transfer additional amounts to secure IPO allotments. When he attempted to withdraw his money, the fraudsters demanded more money, leading the victim to travel to Indore and report the case to the cyber police.