New Bhoiguda Resident Defrauded Of Rs 1.41 Crore In Fake Stock Trading Scam

A 62-year-old private employee residing in New Bhoiguda, Hyderabad, has been defrauded of over ₹1.41 crore in a major stock trading scam. The Hyderabad Cyber Crime police registered a criminal case on Wednesday after the victim realized he had been targeted by cyber criminals posing as financial experts and filed an official complaint.

The fraudulent scheme began in May 2026 when the victim was added to multiple WhatsApp trading groups without his consent. A woman identifying herself as Meera Iyer, who claimed to be an experienced stock market expert, initiated contact with him. Through these interactions, she successfully persuaded the victim to register on a fraudulent website operating under the domain a*ed-apply.com.

To build trust and project credibility, other fraudsters operating within the WhatsApp groups impersonated a senior executive of a legitimate institutional financial services company. They went so far as to use the executive's actual name and photographs. These impostors actively encouraged the New Bhoiguda resident to make substantial financial transfers.

The victim was instructed to transfer large sums of money to various bank accounts through a fake mobile application, under the impression that the funds were being invested in the stock market. The fraudsters manipulated the fake application to display highly inflated, fictitious returns on his investments, which successfully persuaded him to invest even larger sums of money over time.

The deception came to light when the fake application indicated that the victim's account balance had reached ₹13 crore. When the victim attempted to withdraw his accumulated funds, the fraudsters refused the request. Instead, they demanded an additional payment of ₹1.81 crore, claiming it was a necessary commission to release the money.

Growing suspicious of the demand, the victim decided to bypass the group administrators and contacted the actual institutional financial services company’s office in Chennai directly. Upon speaking with the real company, he discovered that the investment scheme was entirely fake and that he had been defrauded of ₹1.41 crore. He then approached the Hyderabad Cyber Crime police, who are now investigating the case.