A 34-year-old private doctor from Kothapet allegedly lost Rs 1.49 crore after investing through a fake stock market trading platform. The Malkajgiri cybercrime police have registered a case based on his complaint and launched an investigation into the alleged fraud.
Doctor Joined Telegram Trading Group
According to the complaint, the doctor joined a Telegram group related to stock trading and investment opportunities on May 4. He was subsequently contacted on WhatsApp by several individuals who claimed to be investment and trading professionals associated with a stock trading group.
The accused allegedly persuaded him to invest through a trading platform that he downloaded from a website shared by them. He was also added to an investment group where stock and IPO recommendations were provided.
Between May 4 and June 29, the doctor reportedly transferred Rs 1,49,33,593 through 59 transactions to accounts linked to the alleged investment scheme. He received only around Rs 1 lakh in return.
Fake Platform Showed Investments Had Grown to Rs 4.6 Crore
The fake trading platform allegedly displayed that the doctor’s investments had increased to around Rs 4.6 crore.
However, when he attempted to withdraw the amount, the accused reportedly told him that his credit score had fallen and that he would have to make additional payments before the funds could be released.
After realising that he had allegedly been defrauded, the doctor approached the National Cyber Crime Reporting Portal and subsequently lodged a complaint with the Malkajgiri cybercrime police.
Cybercrime Police Begin Investigation
Police have registered a case under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act. Further investigation is underway to establish the circumstances of the alleged fraud and trace the transactions.
The case is part of a growing pattern of online investment fraud in which victims are allegedly approached through social media groups and directed towards platforms that falsely display investment gains.
Important Highlights
- A 34-year-old private doctor from Kothapet allegedly lost Rs 1.49 crore in a stock trading scam.
- He joined a Telegram investment group on May 4 and was later contacted through WhatsApp.
- The doctor reportedly transferred Rs 1,49,33,593 through 59 transactions between May 4 and June 29.
- The alleged fake platform showed his investments had grown to around Rs 4.6 crore.
- He received only around Rs 1 lakh and was allegedly asked to make additional payments to withdraw the displayed amount.
- Malkajgiri cybercrime police have registered a case under relevant provisions of the BNS and Information Technology Act.