HYDERABAD: A 44-year-old doctor from Erragadda lost Rs 14.61 crore after investing in a fake trading website on the advice of a woman he met on Facebook. Based on his complaint, the Telangana Cyber Security Bureau registered a case.
He told the police that he was first contacted on August 27 by a woman identifying herself as Monika Madhavan of Chennai, who later shifted conversations to Telegram. He said she described herself as being in a troubled marriage and seeking a divorce, and gradually gained his trust.
She claimed to be a trader earning Rs 4–5 lakh a day on CMC Markets and asked him to register on a website she said was linked to the platform. On September 3, she persuaded him to make a joint investment starting with Rs 30 lakh. The first trade showed a profit of Rs 8.6 lakh.
He said she then urged him to raise the investment to Rs 10 crore each, claiming she had arranged her share from her father. He said he managed to withdraw Rs 85,000, which reinforced his belief in the platform. Under her influence, he raised money through loans and private borrowings, taking his wallet balance to Rs 34 crore.
When he tried to withdraw, he was told he must first pay a 30% tax of Rs 7.5 crore. He then realised he had been cheated. He described the platform as a deliberate fraud.
Further investigation is on.
RETD BANK EMPLOYEE LOSES RS 51 LAKH IN PRE-IPO FRAUD
Hyderabad: A 60-year-old retired bank employee from Malakpet lost `51 lakh in a pre-IPO investment fraud. According to police, in November, he came across a Facebook advertisement and, after clicking the link, received WhatsApp messages from a sender who assured guidance for profitable investments and IPO allotments.
The sender introduced himself as Goshan Yadav from IIFL Capital and added the victim to a WhatsApp group, where fake profit screenshots were posted to lure investors. Initially, he invested `8,000 and eventually a total of `51,23,000. When he attempted to withdraw the funds, they demanded another `51,23,000. Realising he had been cheated, he approached police.