Fraudsters Lure Homemaker into Bogus Trading Apps, Swindle ₹42 Lakh
The fraudsters persuaded her, after a call from a self-proclaimed company official, to download mobile applications saying they were meant for trading.
Hyderabad: A 53-year-old homemaker told the Malkajgiri cybercrime police that she was cheated of approximately Rs.42 lakh in an online investment fraud that started in December. She was added to multiple WhatsApp-based investment groups claiming to offer stock market trading opportunities. Each group reportedly consisted of 72 to 120 members.
The fraudsters persuaded her, after a call from a self-proclaimed company official, to download mobile applications saying they were meant for trading. She was fund her trading account by contacting in-app customer support, which provided different bank account details falsely claimed to be SEBI-approved nodal accounts.
She invested Rs.30,000 and was shown profits. She was then reportedly forced to pay Rs.13 lakh to purchase a large quantity of shares. When she attempted to withdraw her funds, the accused demanded 5 per cent brokerage charges amounting to Rs.9.83 lakh. She paid this also, taking the total to about Rs.42 lakh. The fraudsters then demanded an additional 10 per cent which is when she approached the police.
