Share trading fraud: ‘Woman’ on dating portal swindles consultant of Rs 20 L

As per the FIR, the complainant connected with a woman on a dating website in January after their profiles and interests matched. The two subsequently exchanged numbers and started chatting. A month into the communication, the woman told the complainant about a new stock trading platform with praise for the good returns it gave on investments. She sent him a link and asked him to create an account by submitting personal and financial details. Over the next month, the woman kept persuading the complainant to make payments to certain bank accounts and his account on the website kept showing the additions and high profits.

In March, when the complainant tried to withdraw the money, he was asked to pay USD 3,000 as fees.

At this point he realised he had been cheated and approached the police. An FIR was registered at Koregaon Park police station.

Officials said in the cases reported till now, the victims were targeted through social media advertisements, videos and reels. In the last five months, the Pune and Pimpri Chinchwad police have reported what their cyber investigators are calling an epidemic, a worrying surge in online share trading fraud cases. Fraudsters employ a variety of baits, including trading tips, virtual lectures, mobile apps and enticing promises of exorbitant returns.

SEBI’s advisory on February 26 underscored these tactics, cautioning against fraudsters posing as SEBI–registered entities and exploiting social media platforms to peddle fraudulent trading schemes.