Hyderabad: Retired banker duped of Rs 51 lakh in fake Pre-IPO scam

A retired Malakpet banker lost Rs 51.20 lakh to a fake Pre-IPO investment scam conducted through WhatsApp and Facebook. Cyberabad Cybercrime Police have issued warnings on verifying financial offers, avoiding unverified links, and reporting online frauds immediately.

Hyderabad: A 60-year-old retired bank employee from Malakpet was duped of Rs 51.20 lakh after falling prey to a fake Pre-IPO investment scheme operated through social media and WhatsApp groups.

According to the Cyberabad Cybercrime Police, the victim came across a Facebook post in the name of IIFL Capital in November 2025. After clicking the link, he began receiving WhatsApp messages from a man identifying himself as Goshan Yadav from IIFL Capital, who promised high returns and assured assistance in IPO allotments.

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He was added to a WhatsApp group titled “IIFL CS Pre-IPO 067”, where members posted fabricated screenshots of profits and IPO allotments to lure investors. “Convinced by these claims, the victim initially invested Rs 8,000 and gradually transferred a total of Rs 51.20 lakh by November 25,” Cybercrime officials said.

The fraudsters further showcased fake allotments of Groww and Tennind shares on a manipulated website, displaying an inflated portfolio value of Rs 1.30 crore. When the victim attempted to withdraw his funds, he was asked to pay an additional Rs 51.23 lakh as a release fee, after which he realized he had been cheated.

Cyberabad Cybercrime Police have urged the public to remain vigilant against such Pre-IPO and online trading scams.

Public Advisory:

*Beware of fake investment advertisements on social media platforms.

*Do not trust offers shared through Facebook, WhatsApp, Telegram or unverified websites.

*Always verify financial institutions through official websites or customer care numbers.
*Reputed companies never operate investment schemes through personal WhatsApp numbers or unofficial groups.
*Avoid clicking on unknown links or downloading unverified apps.
* Report cyber frauds immediately to 1930 or www.cybercrime.gov.in.

* For emergencies, contact 8712665171 (call/WhatsApp).