HYDERABAD: A 27-year-old Chartered Accountant from Gandipet was allegedly duped of Rs 2.45 crore after investing in a fake trading platform.
Unknown persons contacted him through email and Telegram, posing as trading and investment experts and promising substantial returns. He was initially persuaded to invest Rs 2 lakh, after which his account showed apparent profits of about Rs 5 lakh within a few days.
The fraudsters then convinced him to invest another Rs 5 lakh, showing Rs 9.5 lakh as credited to his account. Having gained his confidence, they proposed a larger investment plan, first promising returns on Rs 45 lakh and later persuading him to arrange around Rs 2.5 crore for further trading.
Believing the platform was genuine, he arranged funds, including loans, and transferred Rs 2,45,09,550 in 52 transactions between November 20 and December 31, 2025.
Later, his account showed a negative balance and the fraudsters asked him to deposit more money. When he tried to contact them through Telegram, they stopped responding.
He subsequently found that the Exness app had disappeared from his device and the Telegram chat history containing investment details had been deleted. He then approached Cyberabad cybercrime police, who registered a case.