Eight Pune farmers lose ₹1.3 crore in fraud

Pune Rural police have filed a complaint against three individuals for defrauding eight farmers from Ghodegaon of Rs 1.28 crore. The farmers were promised a high return of 24% per year on their investments in the stock market. The fraud came to light after a 41-year-old farmer from Gonawadi village reported the case. He had a prior acquaintance with one of the accused, who operated a stock trading business in Ghodegaon. In December 2022, the accused approached him, claiming that many villagers had already benefited from their investment scheme. Between July 2023 and August 2024, the farmer transferred Rs 26 lakh to a bank account linked to the suspects. Initially, he received some interest payments, but these stopped. Upon investigation, he discovered that the accused had closed their office and relocated to Ghansoli, a suburb of New Mumbai. When the farmer attempted to retrieve his funds, he and others were threatened by the suspects. Further inquiry revealed that seven other people in the community had also been scammed, raising the total loss to Rs 1.28 crore. Authorities have opened a criminal case against the trio for cheating and breach of trust.