Hyderabad: Two Private Employees Lose Over ₹1 Crore Each in Stock Market Investment Frauds
- manoj klumar
- Nov 7
- 3 min read
The rising wave of online trading scams has struck Hyderabad once again. In two separate incidents reported on Monday, two private employees lost over ₹1 crore each to sophisticated stock market investment frauds that used fake trading portals, social media manipulation, and psychological pressure to cheat victims.
Both cases have been registered by the Cybercrime units of Hyderabad and Cyberabad police, who have launched investigations into the fraud networks involved.
Case 1: Secunderabad Man Loses ₹1.02 Crore to Fake IPO Trading Scam
A 54-year-old private employee from Sikh Village, Secunderabad, was duped of ₹1.02 crore after being enticed into investing in what was described as a “profitable IPO block trading opportunity.”
According to cybercrime investigators, the scam began when the victim received a WhatsApp message from a woman identifying herself as Nikita Sharma. Claiming to be a stock trading expert associated with a reputed investment firm, she gradually gained the victim’s trust.
Over the next few weeks, the man was persuaded to make multiple investments on a fraudulent trading portal designed to look like a legitimate financial website. Between August 11 and October 22, he made 19 online transactions, transferring funds to various bank accounts linked to the fraudsters.
The fake platform displayed impressive “profits,” showing his investment grow from ₹1.02 crore to a fictitious ₹3.05 crore. When the victim attempted to withdraw his money, he was told to make an additional “processing payment.” Upon refusing, he was locked out of his account, and all communication with the alleged trader ceased.
Realising he had been scammed, the man filed a complaint with the Hyderabad Cybercrime Police on November 3. An FIR has been registered, and efforts are underway to trace the money trail and the digital infrastructure behind the fake website.
Case 2: Software Engineer Loses ₹1.09 Crore via Telegram Trading Fraud
In a separate but similar case, a 41-year-old software professional from Chanda Nagar reported losing ₹1.09 crore to a Telegram-based stock trading scam.
The victim told Cyberabad police that he was approached by a woman named Rachitha on Telegram, who claimed to be an investment advisor and shared a link to a fake trading website called “Century Market.”
Tempted by the promise of quick profits and guided by the fraudster through small “trial” trades that appeared to generate returns, the victim eventually transferred large sums — totalling over ₹1.09 crore — into the trading wallet provided by the scam platform.
However, when he tried to withdraw his funds, the portal demanded an additional ₹32 lakh as ‘tax’ before releasing the money. When the victim refused to pay, his account was frozen and communication stopped abruptly.
The Cyberabad cybercrime unit has registered a case and initiated a probe into the scam’s origin and associated bank accounts.
Police Advisory: Growing Trend of ‘Stock Trading’ and ‘Investment App’ Frauds
Cybercrime officials in Hyderabad have warned that online investment frauds are becoming increasingly sophisticated, often leveraging social media, WhatsApp, Telegram, and fake trading apps to lure victims.
These scams typically promise high returns, display fake dashboards showing inflated profits, and then demand “tax” or “processing fees” when victims attempt to withdraw funds. Once payments stop, fraudsters block access or delete accounts entirely.
Authorities have urged the public to:
Avoid investing through unverified websites or apps.
Verify the legitimacy of investment advisors and firms.
Avoid clicking on unsolicited links sent via WhatsApp or Telegram.
Report suspicious investment schemes immediately to the National Cybercrime Helpline (1930) or the portal www.cybercrime.gov.in.
A Growing Cyber Threat
With the rapid growth of online trading platforms in India, cybercriminals are exploiting investor interest in IPOs, crypto, and forex to launch “pump-and-dump” and “fake return” scams.
The twin incidents in Hyderabad underscore the urgent need for greater public awareness and stricter regulatory action to combat online financial frauds that target professionals and retirees alike.
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