Man Loses 8.76 Lakh In Investment Scam

Hyderabad: A 49-year-old machine operator from Mallapur was duped of `8.76 lakh by cyber fraudsters, who were running a fake online property promotion scheme under the guise of a reputed real estate group Raheja Developers. According to police, victim is a private employee from Nacharam area. He was initially contacted on Telegram by a woman called Kareena Joshi, who introduced him to a ‘digital promotion job’ linked to a real estate project. He was directed by the scammers to a professionally designed website and lured with promises of easy commissions and bonuses.

According to complaint filed with the Rahcakonda cybercrime wing, the victim earned an initial bonus of Rs 1,005 and received small returns for the deposits. It helped him to build trust on the platform. He was also encouraged through communications on Telegram and WhatsApp by a handler named Divya Sree.

The victim continued to invest large sums to earn the so-called promotional offers and unlock previous earnings.

However, the situation took a turn when the platform began displaying negative balances and technical errors. The victim was then pressurized into making deposits to recover the earlier amounts. The scammers also pointed out issues like credit score failures and fake security deposit requirements to squeeze more money from the victim. Upon realising that he was duped, the victim approached police. He had invested a total of Rs 9.20 lakh and received only Rs 43,885 in returns. Police registered a case under the relevant sections of the BNS and the IT Act. Investigation is underway to trace the accused and the money trail.