A retired IT professional from Pune has allegedly been defrauded of ₹4.43 crore by cybercriminals who posed as investment experts on WhatsApp and Telegram, luring him with promises of extraordinary stock market returns and displaying fictitious profits of over ₹26 crore on a fake trading platform. The case, filed on 1 June 2026 through the National Cyber Crime Reporting Portal (NCCRP), is among the larger individual cyber fraud cases reported in the city in recent months.

How the Fraud Began

The victim, Ujjwal Digambar Chaudhary, 46, a resident of Roseland Residency in the Pimple Saudagar area of Pune, had been investing in the stock market for nearly 15 years. After returning to India in October 2025, he continued managing his portfolio from home.

On 29 March, while browsing content on Telegram, Chaudhary reportedly came across an investment advertisement linked to an account identified as 'Amit20891'. The advertisement promised substantial returns and directed users to join a WhatsApp group named '663 HSBC Stock Analysis Team' for stock market guidance.

Building False Trust

According to the complaint, individuals identified as Myra Sharma and Surendra Rosha administered the group. Members regularly shared stock recommendations, and several participants allegedly posted screenshots showing profits ranging from 25 per cent to 75 per cent, creating an impression of consistent success.

Chaudhary initially followed some of the stock tips using his own Demat and trading accounts and reportedly earned profits — gains that strengthened his confidence in the group. This pattern of early, genuine-looking returns is a hallmark of what investigators call a 'pig butchering' scam, where victims are fattened with small wins before the large extraction begins.

The Escalation: Fake Platforms and Multiple Groups

The original WhatsApp group was subsequently shut down, purportedly for security reasons. Chaudhary was then added to several other groups — '669 HSBC Quantitative Strategy Team', '668 Internal VIP Strategy Team', and '663 HSBC Wealth Creation Group'.

According to the complaint, Myra Sharma sent multiple website links through private messages, directing the complainant to create an 'internal equity account' on platforms including tradevolume.cc, app.workup.vip, mapp.parretaksfe.top, happ.makefildsk.club, happ.gamalte.one, and japp.proshavacn.qpon. These websites were presented as investment platforms connected to the trading operation.

Believing the opportunity to be genuine, Chaudhary allegedly transferred a total of ₹4,43,25,000 from his IDFC Bank account into 34 separate bank accounts over a period of time.

The Withdrawal Trap

As of 1 June 2026, the fake platform displayed a profit figure of ₹26,64,46,237 against the deposited amount in the so-called internal equity account. When Chaudhary sought to withdraw the funds, the accused allegedly informed him that withdrawals could only be processed after payment of a service charge equivalent to five per cent of the displayed profits.

Myra Sharma reportedly told him that a payment exceeding ₹1 crore was mandatory before any withdrawal could be processed. It was at this point that Chaudhary suspected he had been defrauded and filed a complaint through the NCCRP on 1 June 2026.

Case Registered, Investigation Underway

Police have registered a case against the accused under Sections 316(2), 318(4), and 3(5) of the Bharatiya Nyaya Sanhita (BNS), along with Sections 66(C) and 66(D) of the Information Technology Act. Authorities are working to trace the flow of funds across the 34 bank accounts and identify all individuals involved in the scheme.

Cybercrime experts have advised investors to exercise caution with any platform or group on social media promising extraordinary returns, and to verify the legitimacy of any unknown bank account before transferring funds. The investigation is ongoing, and further details are awaited.