Hyderabad: Beautician loses Rs.12 lakh in online investment fraud

The victim received a phone call from an unidentified person on March 28 informing about a 'Lightning Power Bank' investment plan, which promised high returns in a short period

Hyderabad: A woman beautician from Balanagar was cheated to the tune of nearly Rs 12 lakh in the guise of online investments via a mobile application.

According to the police, the victim received a phone call from an unidentified person on March 28 informing about a ‘Lightning Power Bank’ investment plan, which promised high returns in a short period.

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“The caller asked the victim to download an app for the plan, which she did. The first time, she invested Rs 6,900 and received returns of Rs 9,900. Convinced about the genuineness of the app, she began investing regularly,” said Mohd Waheedudin, Inspector (Balanagar), adding that she also got her friends and relatives to invest to the tune of Rs 12.9 lakh in the online scheme.

Recently, the callers shared another phone number and asked her to make payments through e-wallet. She continued investing and making payments. However, for the last few days, when she tried contacting them, there was no response. Based on a complaint, the Balanagar police have booked a case and have taken up investigation.

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