HYDERABAD: A 45-year-old woman from the city lost Rs 1.52 crore in an investment fraud involving a mobile application. The woman, a master’s degree holder and currently a housewife, told police she was added to a WhatsApp group where discussions were held on investments in upper circuit stocks and mutual funds.
She opened an account through a link shared in the group and began investing in upper circuit stocks, SME/mainboard IPOs and mutual funds. She was allotted fake shares in large quantities and persuaded to invest further. When she attempted a partial withdrawal, she was asked to pay a 10% service fee as commission.
Even after paying, her withdrawal was blocked on the pretext that her account number was “jumbled”. She was then asked to pay again. Suspecting fraud, she realised the group was impersonating the Anand Rathi Private Client Group. Between June 6 and July 31, she had transferred a total of `1.52 crore.
“Finally, I came to know they created a forged mobile app and asked me to invest through it,” she said in her complaint.
Cyberabad Cybercrime police registered a case under Sections 318(4), 319(2), 336(3), 338, 340(2) r/w 3(5) BNS and 66-D of the IT Act. Investigation is on.