HYDERABAD: A 48-year-old businessman from Vanastalipuram was allegedly duped of Rs 1.38 crore after falling prey to trading scam.
According to his complaint, on June 21, he was added to a WhatsApp trading group run by Mukesh Kumar Sharma and Surbhi Gulshan Singh Sobti. Later, he joined another group where stock tips and trading advice were shared.
Initially, the victim invested a small amount and even earned profits. On July 21, he invested Rs 50,000 and received a return, which encouraged him to put in larger sums in stocks and IPOs.
However, when he attempted to withdraw his earnings, he was asked to pay additional charges towards tax, commission, and fees. Between July 21 and August 26, he invested Rs 1,38,30,000 through 16 transactions but managed to withdraw only Rs 1,000.
Acting on his complaint, Rachakonda cybercrime police registered a case and launched an investigation.