HYDERABAD: A 32-year-old businessman from Humayunnagar lost 1.22 crore after investing in a fake investment platform.
Hyderabad Cybercrime police said that on January 9, he received a WhatsApp message from an unknown number claiming to offer institutional trading returns. He was added to a WhatsApp group and persuaded to invest through a shared link. Members posted screenshots of IPO allotments and profits.
Trusting them, he invested 50,000 initially and later Rs 1,22,18,029 in 19 transactions. Though allowed to withdraw Rs 1,05,000, he was shown Rs 15,69,02,900 but denied withdrawal unless he paid Rs 35 lakh.
A case has been registered.