Kapra Resident Duped of Rs 2.2 Crore in Stock Market Investment Scam

A 55-year-old private employee residing in Saket Colony, Kapra, has lost Rs 2.20 crore after being lured into a fraudulent stock market investment scheme. Following a formal complaint from the victim, the Malkajgiri cybercrime police registered a case and initiated an investigation.

According to the complaint, the victim was added to a Telegram group titled "Future Tomorrow 2061" by an unknown individual on June 15. A person identifying herself as Anita claimed to represent a stock trading company and persuaded him to invest in shares through fraudulent online trading platforms with promises of high financial returns.

Believing the investment opportunity to be legitimate, the victim initially transferred Rs 10,000 on June 16. He later made an investment of Rs 1 lakh on July 6. The following day, the victim was persuaded to join a "VIP group" and was instructed to transfer an additional Rs 2 lakh.

The fraudsters subsequently convinced the victim to take part in Initial Public Offering (IPO) investments through the platform, named Fin* Investment. Over time, the platform displayed his total investment value as having reached Rs 22 crore.

The fraud came to light when the victim attempted to withdraw Rs 1.5 crore from the account. The fraudsters blocked the withdrawal, claiming that a risk flag had been raised against his account, and demanded an additional Rs 1.5 crore to revoke the restriction. Realising he had been cheated of Rs 2.20 crore, the victim approached the Malkajgiri cybercrime police.