Fake Trading App Scam Cost Pune Engineer ₹2.17 Crore

A 47-year-old software engineer in Pune allegedly lost ₹2.17 crore in an online investment scam, according to a report published on October 28, 2026. The reported scheme began with an investment advertisement on Instagram and continued through WhatsApp groups where members discussed trading.

The promoters allegedly showed the victim a fake SEBI certificate and directed him to an app that appeared to offer trading services. He reportedly transferred increasingly large sums over several months. The details, including the amount and the methods used, are allegations reported in the media.

Scams like this can seem credible when social media ads, group conversations, official-looking documents and a polished app all reinforce the same story. But a certificate or logo sent by a promoter is not proof of registration. Verify investment advisers and intermediaries directly through SEBI’s official website, and be cautious of pressure to invest more or difficulty withdrawing funds. Install apps only through trusted sources.

If you suspect fraud, contact your bank immediately and report it at cybercrime.gov.in or by calling 1930. Prompt reporting may help authorities act on the transactions.

NPAV’s Total Security Fraud Protector is protecting identity, passwords, emails and payments. Such protection may support safer digital habits, but it cannot verify whether an investment offer or adviser is genuine. Check registration directly with SEBI.