Pune Man Loses ₹24 Lakh in Stock Market Investment Fraud
Pune
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News18•30-01-2026, 10:39
Pune Man Loses ₹24 Lakh in Stock Market Investment Fraud
- •Jaysing Baburao Kurale, 58, from Nigdi Pradhikaran, Pimpri-Chinchwad, was defrauded of ₹24.06 lakh.
- •Fraudsters 'Jagjit Singh' and 'AIC Manager Pedro' lured Kurale with promises of high stock market returns between October 17 and December 31, 2025.
- •Kurale was shown a fictitious profit of ₹1.46 crore on an app, leading him to believe the scheme was legitimate.
- •When he attempted to withdraw the 'profit', fraudsters demanded an additional ₹13.80 lakh as 'profit tax'.
- •Kurale deposited a total of ₹24.06 lakh into various bank accounts but received no returns, prompting him to file a complaint at Nigdi Police Station.
Why It Matters: A Pune man lost ₹24 lakh to cyber fraudsters promising high stock market returns and fictitious profits.
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