Hyderabad:A 63-year-old retired junior lecturer lost over Rs 18 lakh to a fraudulent online stock trading racket after being lured into a fake investment scheme through a WhatsApp group. The group appeared legitimate, sharing fake proofs and screenshots of supposed profits.
The victim, a resident of Kranthinagar Colony, said the scam began in May when he was contacted by a woman who called herself Aaradhya Mishra via WhatsApp. She added him to a group in which daily trading tips and stock recommendations were shared by an individual named Pankaj Walia.
A police official said, “The group claimed to represent an investment firm and introduced a scheme. The victim was asked to fill out a Google form and download a mobile app. The accused then initiated their fraud.”
The victim, convinced by their claims, made his first investment of `25,005 and saw a claimed return of 11.52 per cent. Encouraged by the apparent gains, he made four more deposits totalling `18,17,100. The app displayed a fictitious profit of `2.4 crore. However, when he attempted to withdraw `25 lakh, the platform demanded a 10 per cent service charge and then blocked his access.
Despite repeated attempts, the victim was unable to withdraw the amount as his account was frozen. Realising he had been duped, he approached the Rachakonda cyber crime wing and lodged a complaint. Police said an investigation is underway and urged the public not to trust fake investment or trading apps.
