Victim put in Rs 50k in fake stocks first, took out small profit
Hyderabad:A 45-year-old homemaker from Kothaguda was allegedly duped of Rs 2.3 crore in an investment fraud. The victim had started investing money in the last week of December.
According to the FIR, the woman, a resident of Kothaguda, came across an online advertisement on November 28 last year which promised training followed by investment in stock market trading to yield higher profits. After the victim clicked on the link and registered, she was added to a WhatsApp group and was contacted by the admin identifying himself as a professor.
Another woman, who introduced herself as Anli and claimed to be a customer service manager, contacted the victim separately and guided her through investment procedures in both Indian and US stock markets.
The victim was asked to download a trading app through an online link and was assisted in opening an account. She was told that all trades were executed through an institutional or qualified institutional buyer (QIB) account, which allegedly “allowed access to upper circuit stocks, block deals, and preferential IPO allotments”.
The victim made her first investment of `50,000 on December 23 and was able to withdraw money with a small profit margin. She then made 17 transactions, transferring `2.3 crore to 11 different bank accounts between December 24 and January 19. She claimed in her complaint that the fraudsters shared screenshots of the purported profits on WhatsApp group, which instilled confidence in investing.
Everytime she checked the app through which she was investing, she was shown a growth graph and was shown fake profits of `14.77 crore, the victim said in her complaint.
However, when the victim attempted to withdraw the amount, she was allegedly asked to pay 15 per cent of the profits as advance tax. That is when she start suspecting it to be a fraud. Some days later, the WhatsApp group became inactive and the phone numbers stopped responding.
Quack Arrested After Death of Man, Son Files Complaint
Hyderabad:Medipally police arrested Roop Singh Lunavath, an alleged quack claiming to be a registered medical practitioner (RMP), after two injections that he had administered resulted in the death of 56-year-old P. Ellam, a dairy farm businessman.
Medipally sub-inspector Narsingh Rao said Ellam, a resident of Peerzadiguda, had developed a fever at around 8 pm on Monday. His wife rushed him to Singh’s clinic where he administered two injections. Soon after, foam reportedly started coming out of Ellam’s mouth. The family shifted him to a hospital at Boduppal where doctors declared him dead.
Based on a complaint by Ellam’s son Nagaraju, Medipally police registered a case and started an investigation. Police found that Singh did not have a medical degree or licence to practise medicine. Despite this, Singh was running a clinic on MRO road at Peerzadiguda, claiming to be an RMP doctor.
Cops invoke PD Act on offender
Hyderabad: The city police invoked the Preventive Detention (PD) Act against Mir Akbar Ali, 32, and shifted him to Chanchalguda jail. Police said Akbar, a driver from Yakutpura, had been booked in 25 criminal cases, including murder, attempt to murder, robbery, and offences under the NDPS and Arms Acts. This was the third time that the PD Act has been invoked against him.
