HYDERABAD: A 44-year-old businessman lost Rs 3.24 crore in a cyber fraud after being duped through fake stockbroking apps, WhatsApp groups and false IPO allotments.
On May 28, he received a WhatsApp invite from “Bajaj Financial Securities Limited”. “Out of curiosity, I joined the group. Admins were Prisha Singh and assistant Purav Jhaver,” the complaint said.
They regularly shared market trends and IPO tips. A few days later, they advised him to apply for block trades and IPOs, claiming they’d ensure assured allotments through ‘Institutional Investors’.
They shared account details of firms claiming them to be regulatory accounts as per their procedures. “We made the first transaction on May 30, the last on July 9. In total, I credited Rs 3,24,85,000,” the complaint said.
Transactions reflected in their app. But on July 8, when he tried withdrawing the amount, the app showed success—but no credit appeared. “When I contacted support via WhatsApp, they demanded 15% of the app amount,” he said.
Based on the complaint, the Telangana Cyber Security Bureau (TGCSB) registered a case against Prisha Singh, Purav Jhaver, the Bajaj Financial Securities finance team and others under 66D of the IT Act and BNS Sections 318(4), 319(2), and 338. Investigation is underway.