India, March 7 -- The Pimpri-Chinchwad cyber police have busted a Rs.11.13 crore share market and IPO investment fraud, arresting eight accused, including three from Rajasthan.

Accused were identified as Abhay Balasaheb Patil from Kolhapur, Shivtej Rajendra Pote from Wagholi, Mahesh Karbassapap Udchane and Rahul Bahadurprasad Maurya from Dahisar East Mumbai, Yuvraj alias Santosh Satish Mudliyar from Lohegaon, Pankaj Mangu Girigosavi and Prahlad Pruthviraj Gadari from Rajasthan. On Friday morning, their accomplice was held from Rajasthan.

The incident was reported between November 4, 2025 and January 31, 2026.

According to the police, 61-year-old Pralhad Hage, a retired private-sector employee from Nigdi Pradhikaran, was allegedly duped...