Hyderabad: A private employee from Kothapeta fell victim to cyber fraud involving an ‘investment’ in Boeing shares.
The victim was initially contacted by a man who called himself Prashanth and claimed that he was a technical architect at an American aerospace company. Prashanth promised a 200 per cent profit on shares within 60 days and lured the complainant into making an initial investment of Rs.4 lakh.
Assuming that the investment was genuine, the victim decided to invest further, borrowed and transferred an additional Rs.20 lakh. However, no returns were ever received.
The fraud took another turn when Prashanth introduced one Siddharth, claiming to be his manager. Siddharth promised that the money would be refunded within a week, but in the pretext of immediate transaction, he convinced the victim to pay an additional fee for taxes. He threatened the victim that the funds would not be returned without the tax payment.
Even after paying the tax amount, no money was returned. Realising he had been scammed, the complainant reported the incident to the police about an overall loss of Rs.28 lakh. Rachakonda Cybercrime wing personnel are investigating the case.
