Satara senior citizen loses ₹1.71 crore to share-trading scam

Satara: A 70-year-old Satara resident has been cheated of ₹1,71,03,184 after being lured with promises of big profits from investing in the stock market. A case has been registered against two people at Shahupuri police station. Police said the fraud took place between August 9 and October 11, 2026.

According to police, a woman contacted the complainant on WhatsApp posing as a representative of an investment company and persuaded him to invest in the stock market through a platform, promising good returns. He was first shown profits to win his trust and was then asked to deposit money into different accounts from time to time.

He invested more than ₹1.71 crore in all. When the promised returns did not come and he asked for his money back, he was refused, and realised he had been cheated. He then approached the police.

Police inspector D.P. Deshmukh is investigating the case.

Source: Navarashtra