Pune doctor Rs 12 crore scam: A man said to be in his mid-70s from Maharashtra’s Pune fell prey to an elaborate cyber fraud and ended up losing a whopping Rs 12.31 crore. Unidentified cyber cheats lured him on the pretext of doubling his investment within 11 days, and the scam unfolded for three months. Eventually, the crooks exploited the victim’s trust in high-return stock market schemes.
As per police, the fraud dates back to January 2026, when the doctor (75) received a message from an unknown number, which allegedly offered high returns through stock market investments. The doctor, intrigued by the proposal, responded, and the cyber crooks unleashed a chain of events that cost the former his life savings.
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Victim added to WhatsApp group
Soon after the doctor expressed interest, he was added to a WhatsApp group named ‘VIP Stock 24,’ where crooks shared seemingly credible and highly profitable investment strategies. The group’s members, being believed to be part of the scam network, reinforced the illusion of legitimacy by showcasing fabricated success stories and consistent gains. They assured the doctor that strict adherence to the group’s instructions would result in his funds seeing a manifold increase within 11 days, with projected returns reaching as high as Rs 54 crore. Dr further directed to download app
Investigating police personnel revealed that the victim was further directed to download an fraudulent trading application bearing a name deceptively similar to that of a reputed international firm. After registering and sharing confidential financial details, he was instructed to transfer funds into multiple bank accounts.The app displayed these deposits as investments, accompanied by fabricated profits that appeared to validate the scheme’s authenticity. Believing them to be genuine, the doctor continued transferring large sums. [caption id="attachment_2494" align="alignnone" width="1200"]
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Pune doctor Rs 12 crore scam: Victim threatened after making 8 transactions
Between March 7 and March 18, 2026, the victim made eight separate transactions, channeling Rs 12.31 crore to different bank accounts provided by the accused. When he hesitated to invest further, the crooks allegedly threatened him, warning him of seizing his property, and coerced him into paying further. Later, when the doctor’s investments failed to materialise and demands for additional funds persisted from the crooks’ end, he realised that he had been duped. He then lodged a complaint with the cyber cops.
The police said they have registered an FIR and the authorities have launched a probe to identify the perpetrators, arrest them, as well as trace the diverted funds.
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