Hyderabad bizman loses Rs 43 lakh on fake diamond trade app

Hyderabad: A city-based businessman was duped by fraudsters of Rs.43 lakh on the pretext of trading diamonds on a mobile application. The man, identified as Abdul Adil, a resident of Edi Bazaar in the old city, received a message on WhatsApp from a phone number beginning ‘+44’. The sender asked if he was interested in […]

Hyderabad: A city-based businessman was duped by fraudsters of Rs.43 lakh on the pretext of trading diamonds on a mobile application.

The man, identified as Abdul Adil, a resident of Edi Bazaar in the old city, received a message on WhatsApp from a phone number beginning ‘+44’. The sender asked if he was interested in diamond trading and after Abdul Adil expressed his interest, the caller sent him the link of a mobile phone-based application.

“He downloaded the application and initially invested Rs.50,000 for which he got a profit of Rs.1 lakh. He was later told that if he got into the VIP category, he would get more profit. Over a period of time, he invested Rs. 43 lakh and the balance with profit was shown to him as Rs.1.54 crore,” Cybercrime police officials said.

However, when he tried to withdraw the money and failed after repeated attempts, the victim approached the Hyderabad Cybercrime police who booked a case and are trying to track the fraudsters.

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