Techie Loses Rs 77 Lakh to Online Trading Scam

Hyderabad:A 48-year-old software employee from Pragathinagar was allegedly cheated of over Rs 77 lakh in a cyber fraud between February 15 and April 13, involving a WhatsApp-based trading and investment scheme. The victim came across online trading content promising high returns, Cyberabad cybercrime police, quoting her complaint, said. On responding, the victim was redirected to join a WhatsApp group.The fraudsters, posing as representatives of a reputed securities firm, used its branding and regulatory details to gain her trust. She was shown fabricated profit screenshots and was repeatedly persuaded to transfer money under various pretexts, including trading investments, large channel fees, and transaction or tax certificates.Despite making multiple payments, the victim was continuously pressured to deposit more funds, with assurances that her returns would be released only after completing pending payments. The fraudsters also used multiple identities, including individuals posing as fellow investors and even a purported police official, to create credibility. They shared unverifiable transaction details and documents to further mislead her.Fake Stocks: Man Duped of Rs 49.85 LHyderabad:A 35-year-old KPHB resident fell victim to a sophisticated online investment fraud, losing `49.85 lakh after being lured through a social media advertisement promising lucrative stock market returns, he told the Cyberabad cybercrime police.According to the complaint, the victim clicked on an online advertisement related to stock market investments, which redirected him to join a discussion group posing as a professional trading and training forum. The group members, claiming to be market experts, shared stock tips, trading strategies, and screenshots of high profits to build credibility.The victim was persuaded to invest money through links and platforms provided by the fraudsters. Initially, small returns or fabricated profit updates were shown to gain his confidence. The accused then encouraged larger investments, citing exclusive opportunities and time-sensitive trades.The fraudsters used tactics, including peer pressuring the victim within the group and constant assurances of guaranteed profits to keep the victim engaged. They also imposed additional charges under various pretexts such as premium membership, trading fees, and withdrawal processing charges.When the victim attempted to withdraw his earnings, he was asked to deposit more money to “unlock” funds or clear pending charges. Despite repeated payments, no returns were credited, and communication from the group gradually ceased.



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