Hyderabad: A 49-year-old surgeon working at a private hospital and residing in Bandlaguda Jagir has allegedly lost ₹2.30 crore in an online trading fraud. Cybercriminals allegedly added him to a WhatsApp group and lured him with promises of high returns through institutional investments, block trading and IPO allocations in the Indian stock market. The fraudsters initially allowed him to withdraw ₹50,000, allegedly strengthening his confidence in the platform, before blocking his attempts to withdraw larger amounts.
According to police, the alleged fraud began in July 2025 when the victim was added to a WhatsApp group named “Grow Invest Tech Pvt Ltd.j9” by a woman identifying herself as Abhilasha Bisht. She allegedly told him that the group helped people develop trading skills. A person identified as Lalit Keshre was allegedly introduced as a market analyst leading the group.
The victim was subsequently offered opportunities to invest in the Indian stock market through an alleged institutional account. The platform reportedly promoted block trading, IPO allocations and Qualified Institutional Buyer (QIB) trading opportunities. The surgeon was asked to create a QIB account through a web-based trading platform. Members of the group allegedly assisted him with the account setup and later instructed him to transfer money to multiple beneficiary bank accounts provided by purported customer support personnel.
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According to the complaint, the platform presented itself as a professional investment operation dealing in block trades, IPO allocations, institutional investments and QIB transactions. Members of the WhatsApp group regularly posted screenshots showing substantial profits and successful withdrawals. These posts allegedly created the impression that investors were making significant gains through genuine stock market transactions.
The victim told police that his trading account also began displaying substantial profits. This made him believe that his investments were generating genuine returns. When he initially attempted to withdraw money, he was reportedly allowed to withdraw ₹50,000. The successful withdrawal allegedly strengthened his confidence in the platform and encouraged him to invest larger amounts.
The situation changed when the victim later attempted to withdraw larger sums. His withdrawal requests were allegedly rejected, blocked or repeatedly delayed. As the money remained inaccessible, he began suspecting that the trading platform was fraudulent. According to his complaint, he had by then transferred a total of ₹2,30,98,146.
The victim subsequently approached Cyberabad Cyber Crime police and lodged a complaint. A case was registered and an investigation was launched. Investigators are examining the beneficiary bank accounts into which the victim was instructed to transfer money. Police are also looking into the WhatsApp group, the alleged trading platform, phone numbers used by the suspects and the possible links between the individuals involved.
Renowned cyber crime expert and former IPS officer Prof. Triveni Singh said fake trading platforms often use a carefully structured trust-building process. Fraudsters may initially display artificial profits and permit small withdrawals to convince victims that the platform is genuine. Once a victim invests a substantial amount, withdrawals may be blocked and additional hurdles introduced to prevent the recovery of funds. He said investors should independently verify the legitimacy and regulatory status of any trading platform before transferring money, particularly when investments are routed to multiple beneficiary accounts or unusually high returns are promised.
