Pune Investor Loses ₹98 Lakh in Fake Stock Market App Scam

• A Pune-based private firm employee lost ₹98 lakh in an online stock market investment scam after being lured by promises of high returns.
• The victim was added to a mobile messaging group resembling a reputed investment firm, which shared fake tips and promoted a fraudulent trading app.
• The app displayed consistent growth, prompting the victim to transfer funds in multiple installments between September and November.
• Scammers demanded more money for withdrawals and IPO participation when the victim tried to access his funds.
• Pimpri Chinchwad Cyber Police registered a case; similar scams have defrauded others of significant amounts, prompting warnings.

Why It Matters: Beware of online investment scams promising high returns; always verify platforms and consult experts.