Stock market investment turned into a nightmare for a 69-year-old businessman from Hyderabad who was conned of ₹35.36 lakh by cyber fraudsters. The conmen reached out to the victim through WhatsApp, and soon after he was added to a group named “B-9 HDFC Securities” which had 159 members.
“Three days after being in the group, the victim decided to start trading for which he was sent an account application form. A few days after this, the victim began trading in bulk stocks and invested through the website link provided by the scammers,” said an official from the Hyderabad Cyber Crimes police.
Transaction after transaction, the victim’s profits were visible on the dashboard of the fraudulent trading application. The victim attempted to withdraw the money, but in vain.
“The fraudsters demanded 30% commission for the withdrawal of both the principal amount and the profit,” the official added. A case has been booked and further investigation is underway.