Pune: The economic offences wing of Pune police is investigating a complaint by a 62-year-old man alleging that a group of fraudsters, posing as a family from Uttar Pradesh , cheated him out of Rs 6.51 crore.
The fraud happened between Jan 2022 and July 2025. In Jan 2022, he saw an online advertisement promising a 50% return on investment in days. The suspects told the complainant to initially invest at least Rs 2 lakh — he invested Rs 4 lakh, according to the police. After he transferred Rs 3-5 lakh, the suspects issued a cheque for Rs 50 lakh, but it bounced. In all, he transferred Rs 8.12 crore and got back Rs 1.78 crore.
The complainant told police the fraudsters promised him handsome returns if he invested in the market through them. Police said the complainant holds accounts on multiple share-trading platforms. Police said the fraudsters transferred Rs 4.03 lakh in “profit” to convince him to keep investing with them.
He contacted the fraudsters, who claimed to be a family operating a share-trading firm. The complainant stated that the suspects contacted him again, asking him to transfer more money on the promise of returning his entire investment with profits. After fruitlessly waiting some more, he approached the police.
The Nanded City police registered a formal FIR on Tuesday.