HYDERABAD: A 49-year-old software engineer lost Rs 3.30 crore in an investment fraud after investing through an alleged fake website over a span of 20 days in August.
He reported to the Telangana Cyber Security Bureau (TGCSB) that he was added to a Telegram group by an unknown person related to investments. A person in the group, posing as an advisor, introduced him to a woman, who later contacted him on Telegram regarding stock investments.
The woman explained the platform’s functioning and convinced him that the company would manage all analysis, assuring him that he only needed to invest. Initially, he deposited Rs 50,000, and his trading account reflected a 6.62% profit. Persuaded by her, he invested a total of Rs 3,30,40,006 between August 1 and 20. His account then showed a profit of about Rs 12.24 crore.
When he attempted to withdraw, the woman demanded a 10% commission on the profit and directed him to the platform’s support team. They further instructed him to pay taxes for withdrawal. Growing suspicious, he contacted the police.
TGCSB registered a case and investigation is underway.