HYDERABAD: A 42-year-old software employee from LB Nagar lost Rs 3.37 crore after being duped by a fake online trading platform.
In August, an unknown person, using the name Aarohi and a female display picture, added him to a WhatsApp group promoting high-gain stocks.
On September 22, Aarohi launched a new investment plan and invited the victim to join privately. She and Shiv Sehgal then directed him to a platform via WhatsApp and collected his personal details.
Persuaded to create an HNI account, he invested 50,000 initially, which showed 4.69% profit. Over 50 days, he invested Rs 3.49 crore.
When withdrawing funds on November 10, he was repeatedly asked for fees and taxes, realising the scam. A case has been registered with TGCSB.
Trading company booked for Rs 1.89 crore scam
Raidurgam police have registered a case against Advika Trading Company and its members for allegedly defrauding 18 investors of Rs 1.89 crore by promising unusually high returns.
The complainant, 64-year-old Asif Ali, said the company ran a Ponzi scheme using funds from new investors to pay earlier ones. Police have launched an investigation.