Hyderabad: Police SI Loses Rs 39.3 Lakh in WhatsApp Trading Scam
The fraudsters continued to persuade him by displaying manipulated profit figures on the application. Trusting these claims, the victim made multiple transfers over time, sending a total of Rs 39,37,247 through fourteen transactions.
Hyderabad: A police inspector filed a complaint with the Rachakonda cybercrime police after losing Rs 39.37 lakh in an investment scam. According to police sources, the victim, from the Malkajgiri zone, was duped after a family member using the complainant’s mobile phone was lured by conmen. The family member was allegedly enticed to invest in concert tickets.
On November 24, the victim was introduced to an online trading service through a WhatsApp group titled Special Training Program: Deva A Team 13, which had 98 members. The group shared a registration link claiming to be for a trading platform called the MAVERICKS Trading App.
The administrators regularly posted screenshots showing huge profits and success stories. Impressed by the purported returns, the victim initially invested Rs 50,000 and was later encouraged to invest additional amounts ranging from Rs 3 lakh to Rs 5 lakh.
The fraudsters continued to persuade him by displaying manipulated profit figures on the application. Trusting these claims, the victim made multiple transfers over time, sending a total of Rs 39,37,247 through fourteen transactions.
However, when he attempted to withdraw his money and the displayed profits, the application offered no withdrawal option. His repeated attempts to contact the group administrators failed, and once they stopped responding to calls and messages, he realised he had been scammed. The family member then informed the complainant, who is also an Inspector.
Using the mobile phone and bank account belonging to the Inspector, the fraudsters had executed the transactions. The Inspector subsequently filed a complaint with the Cybercrime police, and a case has been registered.