A 39-year-old retired Army officer from Sainikpuri has filed a complaint with the Rachakonda cybercrime police stating that he had been duped of `43.18 lakh in an elaborate online trading scam.
Hyderabad: A 39-year-old retired Army officer from Sainikpuri has filed a complaint with the Rachakonda cybercrime police stating that he had been duped of Rs 43.18 lakh in an elaborate online trading scam. The victim said he was lured by fraudsters under the guise of earning high profits through stock market investments.
According to the complaint, a gang identifying themselves as Swathi Reddy, Tanya Sharma and Das contacted him in December last,Claiming to represent a trading firm and promising substantial profits through guided stock trading.
The victim believed their numbers and initially invested small amounts. He began receiving minor returns, including a profit of Rs 1 lakh. Over time, encouraged by consistent communication and investment tips, he increased his investments. The gang continued to assure him of rising profits while returning small sums to maintain credibility.
The situation changed when Tanya Sharma demanded 30 per cent of the amount as a fee to release what was claimed to be a Rs 56 lakh profit. Growing suspicious, the officer travelled to the firm’s listed address in Bengaluru, only to find that no such office existed.
Realising he had been defrauded, the victim lodged a formal complaint. Investigators have confirmed that while the officer earned a meagre profit of 1 lakh, he ended up losing Rs 43.18 lakh in the process.
