Two Hyderabad residents have allegedly lost more than ₹1.58 crore in separate stock market investment scams in which fraudsters promised high returns, displayed fake profits and later demanded additional payments when the victims attempted to withdraw their money. The alleged scams were initiated through social media and Telegram, with the fraudsters reportedly using attractive investment offers to build trust before persuading the victims to transfer larger amounts.
Hyderabad Cybercrime Police are investigating both cases and are working to identify the people behind the alleged fraudulent trading schemes, trace the money trail and determine whether the two incidents are connected.
Facebook Advertisement Leads to ₹71.84 Lakh Fraud
In the first case, a woman from Saidabad allegedly came across an advertisement related to stock market trading and investment on Facebook in May. The advertisement reportedly used the name of Union Finance Minister Nirmala Sitharaman, which allegedly made the investment opportunity appear genuine to her.
After clicking the link provided in the advertisement, the woman was allegedly contacted by unidentified individuals. According to the complaint, they collected her identity documents and added her to a Telegram group.
The fraudsters allegedly began by showing profits on smaller investments. This reportedly convinced the woman that the investment scheme was genuine and encouraged her to increase her investment.
According to the police complaint, she eventually deposited ₹71.84 lakh in multiple instalments. Her online account was subsequently shown to have generated an alleged profit of approximately ₹9.85 crore.
When she attempted to withdraw the displayed amount, the fraudsters allegedly demanded additional payments under different pretexts. After repeated demands for further payments, she suspected that she had been defrauded and approached the Cybercrime Police.
Youth Allegedly Loses ₹86.50 Lakh Through Telegram Scheme
In the second case, a youth from Sultan Shahi allegedly came across a Telegram advertisement promising substantial returns from stock market investments. He contacted the number provided in the advertisement and was allegedly introduced to a person named Aravind.
Aravind allegedly assured the youth that he could earn high returns through stock market investments. Acting on the assurances, the youth invested ₹86.50 lakh in multiple instalments.
When he later attempted to withdraw his money, the fraudsters allegedly prevented the withdrawal and pressured him to make additional payments. Suspecting that he had fallen victim to a fraud, the youth approached Hyderabad Cybercrime Police and lodged a complaint.
Investigators are examining the mobile numbers, Telegram accounts, bank accounts and other digital evidence allegedly used in the two cases.
Fake Profits Used to Build Victims’ Trust
Renowned cyber crime expert and former IPS officer Prof. Triveni Singh said that investment scams often follow a pattern in which fraudsters initially display small or apparently genuine profits to establish credibility. Once the victim gains confidence, the fraudsters encourage larger investments. When the victim attempts to withdraw the money, additional payments may be demanded in the name of taxes, processing fees, security deposits or other charges.
In such cases, the profits displayed on the screen may not represent genuine earnings. Fraudsters can allegedly use fake trading platforms or manipulated dashboards to create the impression that an investment is rapidly increasing in value. By the time the victim realises that the displayed balance cannot be withdrawn, a substantial amount may already have been transferred to the fraudsters.
Police Trace Money Trail and Digital Network
Hyderabad Cybercrime Police are investigating both complaints and examining the financial and digital channels allegedly used to collect money from the victims. Investigators are looking into the beneficiary bank accounts, phone numbers, Telegram profiles and other digital identifiers linked to the transactions.
Police are also examining whether the two cases were operated by the same network or by separate groups using similar investment fraud techniques.
The cases highlight the growing risks associated with unsolicited stock market investment advertisements on social media and messaging platforms. Experts advise investors to independently verify the registration and regulatory status of any investment platform before transferring money.
Unverified Telegram investment groups, unusually high-return promises, requests for additional payments before withdrawals and trading platforms that are not independently verifiable should be treated as major warning signs. Investors should avoid transferring additional funds simply because a platform displays large profits or claims that payment is required to release the balance.
