Hyderabad: Cyber scammers cheat ex-IPS officer’s wife of Rs 2.58 crore

The wife of a former IPS officer was defrauded of Rs 2.58 crore in a fortnight-long stock market scam via WhatsApp. The victim made 19 transactions believing in high returns before reporting the fraud to Hyderabad Cyber Crime Police

Hyderabad: Cyber scammers duped the wife of a former IPS officer of Rs 2.58 crore in a fortnight-long investment scam.

The woman initially received messages on WhatsApp offering huge profits on investments in the stock market.

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Taking the messages to be genuine, the victim followed up with the scammers for a few days. The fraudsters on pretext of guiding the victim in trading in the stock market, added her mobile phone number in a WhatsApp group.

The fraudsters claimed investors would earn 500 per cent returns and said the platform was a Securities and Exchange Board of India-certified website.

“Believing the claims, the victim transferred money between December 24 and January 5. She made 19 transactions, investing a total of Rs 2.58 crore,” said the police.

When the woman stopped transferring any more money, the fraudsters pressured her and warned that her existing investment would be lost.

Realising she had been cheated, the victim approached the Hyderabad Cyber Crime Police who registered a case and launched an investigation.