All posts tagged: Stock market fraud

Rs 5.63 Crore Lost: Retired Banker In Pune Loses 38 Years Of Savings In WhatsApp Trading Scam | India News

Rs 5.63 Crore Lost: Retired Banker In Pune Loses 38 Years Of Savings In WhatsApp Trading Scam | India News

Published by Webster

Last Updated:January 15, 2026, 17:26 IST According to the complaint, the trouble began when the retiree came across an advertisement on Facebook promising “online share trading” and “huge profits” Drawn by the prospect of quick returns from the stock market, he clicked on the advertisement. (Representative Image) On January 13, a 68-year-old retired bank officer approached the Pune Cyber Police to file a FIR, alleging that he had been cheated of Rs 5.63 crore in an online stock trading scam that unfolded over more than three years. The victim, a resident of Karvenagar in Pune, had spent his entire professional life in banking, dealing with regulations and fraud prevention, yet fell prey to an elaborate digital con that began in June 2022. According to the complaint, the trouble began when the retiree came across an advertisement on Facebook promising “online share trading” and “huge profits”. Lured by the prospect of quick returns from the stock market, he clicked on the advertisement and was soon contacted on WhatsApp by individuals who introduced themselves as investment experts …

Stock Market ‘Fraud’: Court Orders FIR Against Ex-Sebi Chief Madhabi Puri Buch, 5 Others

Stock Market ‘Fraud’: Court Orders FIR Against Ex-Sebi Chief Madhabi Puri Buch, 5 Others

Published by Webster

Last Updated:March 02, 2025, 16:46 IST A special court here has directed the AntiCorruption Bureau (ACB) to register an FIR against former Sebi chairperson Madhabi Puri Buch and five other officials in connection with alleged stock market fraud and regulatory violations. Ex-SEBI chief Madhabi Puri Buch A special court here has directed the Anti-Corruption Bureau (ACB) to register an FIR against former Sebi chairperson Madhabi Puri Buch and five other officials in connection with alleged stock market fraud and regulatory violations. “There is prima facie evidence of regulatory lapses and collusion, requiring a fair and impartial probe,” the special ACB court judge, Shashikant Eknathrao Bangar, said in the order passed on Saturday. The court said it will monitor the probe, and sought a status report (of the case) within 30 days. The court order also noted that the allegations disclose a cognisable offence, necessitating an investigation. The inaction by law enforcement (agencies) and the Securities and Exchange Board of India (SEBI) necessitates judicial intervention under the provisions of the CrPC (Criminal Procedure Code), it added. …