Hyderabad: Surveyor Loses Rs 17L to Trading Scam

Hyderabad: A 39-year-old private land surveyor from Bhongir lost Rs 16.93 lakh after falling victim to a fake online trading platform operated by fraudsters posing as a reputed financial security firm. The victim has approached the Rachakonda cyber crime wing, seeking action and recovery of his funds.

According to police, the man came across a Facebook advertisement promoting investment opportunities through a trading group. After giving a missed call to the listed numbers, he was contacted via WhatsApp and added to a Telegram group.

The scammers guided him through the process of opening a trading account by sending APK links. Trusting the instructions, the victim installed the application and submitted his personal documents, including Aadhaar, PAN and bank details.

To gain his confidence, the fraudsters initially credited a small profit of Rs 500 on an investment of Rs 5,000. As the victim began trusting them, he was persuaded to make higher investments with the promise of substantial returns. Over time, he transferred a total of Rs 16,93,200 to multiple bank accounts controlled by the scammers.

However, when he attempted to withdraw his so-called profits, he was asked to make additional payments to unlock the funds. Realising he was being deceived, he halted further transactions and reported the fraud. In total, he received only Rs 1,000 back and lost the rest.