47-Year-Old Chief Software Engineer Duped of Rs 2.17 Crore Through Fake Stock Trading App:

A software engineer aged 47 years, employed in the role of chief engineer in a prominent Pimpri-based software company, has been duped for Rs 2.17 crore. According to the sources, the affected individual belongs to Tathawade, and he had been lured to make an investment in the stock market using a fake trading application that was developed in the name of a trading company based in Indore.

The software engineer had transferred the money to the accused between August 03, 2026, and September 17, 2026. When he tried liquidating his portfolio, he realised that he had been defrauded. Subsequently, he filed a complaint in the crime branch, and thereafter, the case was transferred to their Pimpri Chinchwad counterparts.

On August 03, 2026, the complainant had seen a post on social media advertising a trading platform. He felt it was interesting and useful; hence, he clicked on the link attached to the advertisement. The link directly added him to a group on a messaging platform.

He consistently kept an eye on the group for two days and noticed the daily shares of screenshots of their portfolios, which further built his interest and trust. Thereafter, he talked to the group's administrators. They claimed that they were the representatives of the Indore-based company. They shared with him opportunities to buy shares and invest in initial public offerings (IPOs). On the recommendation of the administrators, the complainant downloaded their application.

Initially, a small amount was transferred by the complainant into the accused's bank account; however, later he was convinced to invest more. The app reflected a growth of 20% in his portfolio, which further helped in building his trust. The app showed that his portfolio was worth Rs 3.25 crore.

On September 15, the complainant tried to divest his portfolio; however, the accused told him he had not followed the proper process and further told him that in order to unlock his funds, he would be required to transfer Rs 50 lakh. This made the complainant feel suspicious. To find out what was wrong, the complainant visited their company's office in Indore, and after reaching the location, he discovered that he had been duped.