Colonel Sandeep Srivastava, a retired Army officer, has lodged a complaint regarding a substantial online trading fraud that cost him over Rs 1 crore.
Colonel Sandeep Srivastava Reports Online Trading Fraud
A 67-year-old retired Army colonel from Ambegaon Khurd, Colonel Sandeep Srivastava, has lodged a complaint with the Pune cyber police regarding an online trading fraud that has resulted in a significant financial loss. The incident reportedly occurred between October and December of last year, during which the retired officer lost a staggering Rs 1.03 crore.
The immediate circumstances surrounding the case reveal that Colonel Srivastava’s phone number was added to a messaging application group that was discussing high returns from share-trading tips. The group administrator subsequently sent him a link to download a trading application, which marked the beginning of the fraudulent scheme.
Initially, Colonel Srivastava purchased low-value shares as advised by the group. However, he was later encouraged to invest in high-value shares and IPOs. The application displayed a profit of more than Rs 4 crore, leading him to transfer money to 15 different bank accounts. Unfortunately, when he attempted to sell the shares or withdraw the purported profits, the suspects did not allow him to do so, raising red flags about the legitimacy of the operation.
In a statement, Senior Inspector Swapnali Shinde confirmed the situation, noting, “The victim stays with his family,” highlighting the emotional toll this incident has taken on Colonel Srivastava and his loved ones.
Beyond this troubling incident, Colonel Sandeep Srivastava has also ventured into the hospitality industry by opening a homestay in Kathwara village along the Lucknow highway. This initiative was suggested by his daughter to help fill the void left by their children moving abroad. The homestay charges Rs 1,500 for a room and has already welcomed guests from various states across India.
Colonel Srivastava expressed his sentiments about the homestay, stating, “What began as an idea from my daughter has turned into something that keeps us engaged and connected with people.” This venture not only serves as a source of income but also as a means of social interaction for the retired officer.
In a related cultural context, the film ‘Battle of Galwan,’ featuring Bollywood actor Salman Khan as an Indian Army officer, has brought attention to the sacrifices made by soldiers during the 2020 Galwan Valley clash between India and China, where 20 Indian soldiers lost their lives. Salman Khan remarked, “But I’m a colonel, brother and this is a colonel’s look, who understands how to motivate his soldiers,” reflecting the pride and responsibility associated with the title.
As the investigation into the online trading fraud continues, authorities are urging individuals to exercise caution when engaging in online trading platforms. Details remain unconfirmed regarding the identities of the suspects involved in this fraudulent scheme.
