Man Pays Rs 60.9L, Gets Back 1,193

hyderabad:A 41-year-old medical representative from the city was allegedly cheated of Rs 60.9 lakh after being promised high returns through stock market trading. In his complaint, he told Malkajgiri cyber crime police that he was allowed to withdraw Rs 1,193 crore.

Last November, while browsing social media, he responded to an investment-related application. Following this, he was added to the WhatsApp group, which envisions itself as a professional trading and investment circle, where members share screenshots of alleged profits.

The victim was contacted by a woman who posed as an investment advisor and guided him through affiliate links to sign up for multiple trading platforms. He was encouraged to invest small amounts initially and was allowed to withdraw Rs 1,193.

Encouraged by this, he invested in what he believed were stock opportunities and huge profits were seen on the trading board. When he tried to withdraw the money, he was asked to make additional payments. He paid a total of 60.92 lakhs before realizing it was a scam.