Pune family alleges Rs 4.5 crore fraud over AI trading apps promising 15% monthly returns

Pune, October 27: A case of fraud involving crores of rupees has come to light in Gahunje in Maval taluka, where a woman and her family were allegedly cheated. It is alleged that they were enticed to invest in share and forex trading through algorithms based on artificial intelligence (AI), with a promise of assured profit of 15 per cent every month. The alleged fraud took place between July 2025 and August 2026.

A 32-year-old woman from Gahunje filed a complaint on Friday against people linked to two trading apps, Mahatrade and Tradeway. According to the complaint, the accused promoted these platforms and persuaded investors to put money into share and forex trading. They had assured returns of at least 0.70 per cent a day through AI-driven trades and an assured profit of 15 per cent every month.

The complaint states that the woman invested a total of Rs 87.26 lakh, of which Rs 32.38 lakh went to Mahatrade and Rs 54.88 lakh to Tradeway. Rs 19.39 lakh of this was returned, which means Rs 67.86 lakh is allegedly still outstanding.

The complaint also says the woman's family members were persuaded to invest large sums. Her father, mother and sister together invested Rs 5.01 crore, of which Rs 1.52 crore was returned. The remaining Rs 3.49 crore, which includes both the promised profit and the principal, was allegedly not returned.

The complaint alleges that the accused exploited the promise of high, assured returns from AI-based trading to cheat the woman and her relatives of crores of rupees. Details of the accused and of further police action are not available at present.