2 min readMay 23, 2026 07:51 PM ISTThe complainant subsequently received details of multiple bank accounts and was instructed to transfer money into them for the purpose of currency trading. (Image generated using AI)A 53-year-old Pune based businessman lost 7.07 crore in a currency trading scam after being duped with promises of high returns by alleged cyber fraudsters.The complainant, a resident of Kondhwa, lodged a First Information Report (FIR) at the cyber police station of Pune city police on Friday. According to police, the businessman came in contact with the alleged fraudsters through the social media platform Telegram in October last year. As per a press release issued on Saturday, the accused sent the complainant a link to a platform called PU Prime and asked him to create an account.The complainant subsequently received details of multiple bank accounts and was instructed to transfer money into them for the purpose of currency trading.Between October 10, 2025, and April 4, 2026, the complainant transferred a total of Rs 7,07,61,876 through multiple online transactions into bank accounts provided by the accused. However, he allegedly received no returns on the investments.Based on the complaint, police have registered a case against unidentified cyber fraudsters under Sections 318(4), 319(2), and 3(5) of the Bharatiya Nyaya Sanhita (BNS), along with relevant provisions of the Information Technology (IT) Act.Police are investigating the Telegram ID, bank accounts and mobile phone numbers allegedly used in the fraud.Pune has witnessed a sharp rise in cybercrime cases in recent years. According to National Crime Records Bureau (NCRB) data, the city recorded 357 cybercrime cases in 2022 and 487 cases in 2023, before the number surged to 1,504 cases in 2024.Click here to join Express Pune WhatsApp channel and get a curated list of our stories© The Indian Express Pvt LtdAdvertisementLoading Recommendations...Advertisement