HYDERABAD: An employee at the Defence Research and Development Organisation (DRDO) lost Rs 54 lakh in an investment fraud. Lured with promises of high returns, the 39-year-old transferred the amount to various bank accounts provided by fraudsters.
He told police that in May 2025, he was added to a WhatsApp group chat — ASBPL Start-Up Excellence Circle. The members claimed that a Kolkata-based firm, Abhinandan Brokerage Stock Company, had 39 members who regularly shared their profit reports and deposit receipts.
The self-proclaimed assistant of the fraudulent firm, Abhishek, promised the victim guaranteed returns on investment in an IPO/BLOCK deal and asked him to transfer the money.
Believing him, the victim sent the amount through the scammer’s app between June 9 and July 31, 2025. Apart from investing his hard-earned money, the victim even took a loan to make further profits. The app showed a total amount of Rs 8.42 crore. However, when he requested to withdraw the money, the fraudsters told him to pay Rs 10 lakh more.
Realising he had been scammed, he approached the Hyderabad police. Based on his complaint, a case was registered under Sections 66C, 66D of the IT Act and Sections 111(2)(b), 318(4), 319(2), 336(3), 338, 340(2) of the BNS.
15 cybercriminals held in week-long crackdown
Hyderabad: Cyberabad Cybercrime police arrested 15 individuals from various states in connection with 11 cybercrime cases that occurred between July 29 and August 4. Among the 15 arrests, 12 individuals were linked to trading fraud, two to gaming fraud, and one to business fraud. The police have seized 14 mobile phones, eight debit cards, one Aadhaar card, one PAN card, 13 SIM cards, and four proprietorship stamps. The Cyberabad police advise citizens to remain cautious of investment and trading scams that promise high returns