Hyderabad techie duped of Rs 1.55 crore in fake stock trading investment scam

A software professional from Golconda was allegedly cheated of Rs 1.55 crore by cyber fraudsters who lured him with fake stock market investment offers through WhatsApp. Hyderabad Cybercrime Police registered a case and launched an investigation.

Hyderabad: A software professional from Golconda was cheated to the tune of Rs 1.55 crore by cyber fraudsters who allegedly lured him with fake stock market investment offers.

The victim, identified as Venkata Naga Bharata Simha Gupta, has reportedly received a WhatsApp link in early February claiming to provide expert trading tips.

---

Police said the techie was later added to a group where members allegedly shared screenshots of profits, creating a sense of trust and confidence.

Following the instructions, Gupta downloaded an app suggested by the fraudsters and began transferring money between March 3 and March 23. While the app showed virtual gains of around Rs 2.40 crore, he was unable to withdraw any amount.

Suspecting foul play, he approached the Hyderabad Cybercrime Police, who registered a case and took up an investigation.

The Cybercrime police have requested the citizens against falling for online investment schemes promising quick and high returns.