Representational Image
Hyderabad: A 34-year-old doctor from Kothapet lost over Rs 1.5 crore in an alleged stock market investment scam after being lured through a Telegram group promising high returns. The doctor said he joined a Telegram group, CA Manish, on May 4, which focused on stock trading and investment opportunities. You Can Also Check: Gold Rate in Hyderabad | Silver Rate in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad | Hyderabad AQI | Weather in Hyderabad | Petrol Price in Hyderabad | Diesel Price in Hyderabad | CNG Price in Hyderabad | LPG Price in Hyderabad Stay updated with the latest Hyderabad news.
Malkajgiri cyber crime police registered a case on the victim’s complaint. He was subsequently contacted on WhatsApp by several people using four mobile numbers, who claimed to represent an investment scheme operated by an international bank. The fraudsters added him to a WhatsApp investment group and created an account for him on a fake trading platform. He was persuaded to invest in stocks and IPOs recommended through the platform. Realising he had been cheated, the doctor filed a complaint on the National Cyber Crime Reporting Portal and approached police. A case was registered under relevant provisions of the BNS and IT Act. Download the TOI App.
Between May and June, the victim transferred over Rs 1.5 crore through 59 transactions to different bank accounts. He received only Rs 1 lakh in return. The fake platform later showed his investments had grown to Rs 4.6 crore.
However, when he tried to withdraw the money, the fraudsters demanded additional payments, claiming his credit score was low.