Cyber fraudsters dupe retired employee of Rs 21 lakh in Hyderabad

According to the police, the man, aged 73, received a message from an unidentified person claiming to be from 'Sharekhan', an online trading company

Hyderabad: A retired employee was duped of Rs 21 lakh by cyber fraudsters on the pretext of stock trading.

According to the police, the man, aged 73, received a message from an unidentified person claiming to be from ‘Sharekhan’, an online trading company.

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At the instance of the executive, the man opened a trading account and transferred Rs 50,000 to a bank account provided by the fraudsters for purchasing shares. However, the victim suffered a loss in it.

“The fraudster asked the man to purchase shares of another company, and believing the conman, he transferred Rs 21 lakh to a bank account. While the trading account of the victim showed a balance of Rs 22.50 lakh, he was unable to withdraw the amount. The fraudsters instead asked the man to transfer more amounts to facilitate the withdrawal of the amount,” said an official of the Hyderabad cybercrime police station.

The man grew suspicious and approached the cybercrime police, who registered a case against the fraudsters and are investigating.