In a major cyber fraud case in Hyderabad, scammers posing as stock market experts allegedly cheated a businessman and a retired university professor of nearly ₹7 crore. The fraud involved fake trading platforms, manipulated profit displays, and systematic psychological manipulation to extract large investments.
According to investigators, the accused approached victims by presenting themselves as professional stock traders offering high returns through online investment platforms. A 62-year-old businessman from the ECIL area alone lost around ₹3.87 crore after being convinced to invest in what appeared to be a legitimate trading setup.
Similarly, a retired professor from Hyderabad Central University was also targeted using similar tactics, contributing to the total fraud amount of approximately ₹7 crore. The victims were gradually persuaded to increase their investments based on fabricated profit figures displayed on fake dashboards.
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Modus Operandi: Fake Profits to Build Trust
The fraud followed a familiar cybercrime pattern. Initially, victims were encouraged to invest small amounts and were shown artificial profits to gain their confidence. In some cases, limited withdrawals were allowed to reinforce the illusion of legitimacy.
Once trust was established, the scammers pushed victims to invest larger sums. When victims attempted to withdraw substantial amounts, they were either denied access or asked to pay additional charges, effectively trapping their funds.
Coordinated Cyber Network Suspected
Authorities suspect that the operation is part of a larger, organised cyber fraud network. The use of multiple accounts, fake identities, and digital platforms indicates a coordinated effort designed to exploit investors seeking quick returns.
Investigators are currently tracing financial transactions and digital communication channels to identify other members of the network and possible interstate or international links.
Rising Trend of Stock Trading Cyber Scams
This case highlights the growing prevalence of online trading frauds in India, particularly in metropolitan cities like Hyderabad. Cybercriminals are increasingly using sophisticated techniques, including fake apps, WhatsApp groups, and impersonation of financial experts, to deceive victims.
Law enforcement agencies have repeatedly warned the public against investment schemes promising guaranteed or unusually high returns, urging individuals to verify platforms before transferring funds.
About the author – Ayesha Aayat is a law student and contributor covering cybercrime, online frauds, and digital safety concerns. Her writing aims to raise awareness about evolving cyber threats and legal responses.
