Businessman Loses Rs 73 L in Fake Online Investment Scheme
The scheme was allegedly promoted by a person identifying himself as CEO Luis Sanchez.
Hyderabad:A 53-year-old businessman from Nacharam fell victim to a sophisticated online investment fraud, losing over ₹73 lakh after being lured by promises of high returns through a fraudulent digital platform.
According to the victim, he came across a social media reel advertising an investment website, Maximgain.com, which claimed to offer a daily return of 2 per cent with full capital repayment after 10 months. The scheme was allegedly promoted by a person identifying himself as CEO Luis Sanchez. Soon after, another individual, Naresh Verma, contacted the victim through Facebook Messenger and WhatsApp, guiding him through the registration and investment process.
Believing the scheme to be genuine, the complainant initially invested ₹4.65 lakh in September 2025 through Binance P2P trading by converting the amount into cryptocurrency (USDT). The platform reflected steady profits, and a small withdrawal of ₹21,204 further boosted his confidence.
Encouraged by the apparent returns, the victim made multiple additional investments amounting to ₹41.85 lakh, ₹17.83 lakh and ₹16,461. The application dashboard showed his total investment growing to approximately ₹74.68 lakh.
However, when he attempted to withdraw larger amounts, the accused refused to process the transactions. Despite repeated follow-ups, all communication was abruptly cut off, and the victim was blocked across platforms.
Realising he had been cheated, the businessman approached the cybercrime sleuths. A case has been registered with the Malkajgiri Cyber Crime Police, and officials are investigating the digital trail, including cryptocurrency transactions, to identify and apprehend the accused.
