According to a police officer, the techie was looking for ways to invest his money in the stock market. While searching for brokerage firms on social media, he came across a firm that claimed to offer good returns through investments in shares and IPOs.
The firm then added him to an investors’ group on a messaging app. Members of the group regularly shared stock market tips, updates and investment information.
Trusting the claims, the techie transferred Rs 6.58 lakh to multiple bank accounts as part of the investment process.
However, he did not receive the promised returns. When he contacted the people behind the scheme and asked for his money back, they allegedly refused to return it.
The accused also allegedly threatened him by claiming that if he demanded his money, the Securities and Exchange Board of India (SEBI) could start an inquiry against him. They further told him that he could face a fine.
The techie eventually realised that he had been trapped in an investment scam and approached the police.
Police have started investigating the case. Officials have sought details of the transactions from the techie’s bank to trace the money and identify those involved in the fraud.
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I’m Priya Agarwal, and I write about everything related to Hinjewadi! From the latest news and events to hidden spots and local businesses, my articles are all about helping you explore and enjoy this vibrant area. Whether you live here or are just visiting, I aim to bring you useful, interesting, and up-to-date information about Hinjewadi. Stay tuned for more!
