Advocate loses ₹34.9 lakh in alleged online trading fraud via fake Aaditya Birla Capital app
HYDERABAD: A 49-year-old advocate from Gajularamaram has alleged that he was cheated of ₹34,97,014 in an online trading fraud operated through a fake investment platform posing as Aaditya Birla Capital.
According to a complaint received by police on March 11, 2026, the victim, Ch Srinivas Rao, joined what he believed to be an investment programme after seeing a Facebook advertisement on February 14, 2026.
Rao told police that he was added to a WhatsApp group named “AZ134-ABSL Impact Collective” by a woman identifying herself as Diya Mehra, who claimed to be an adviser with Aaditya Birla Capital. She allegedly guided members on institutional trading strategies and asked him to create an account on a website, newealth-sys.net.
Using the login credentials provided, Rao opened an account on the platform and began trading under the guidance of group members.
Investments made through multiple deposits
The complainant said he initially transferred ₹1,99,014.16 from his State Bank of India account to an Axis Bank account linked to the platform on February 18, 2026. He claimed the group administrators guided members to trade in “upper circuit” stocks and block trades, promising high returns with zero commission.
He later deposited additional amounts, including ₹1,99,000, ₹50,000 and ₹49,000 on February 22, 2026, followed by ₹5,00,000 on February 23, 2026, and several other transfers. Each deposit was made using a unique “charge code” linked to different bank accounts, which he said was explained as part of an institutional trading process.
Rao told police that the platform displayed large profits and allowed trades that are normally unavailable in standard demat accounts, which initially convinced him that the system was genuine.
Fake IPO allotment used to extract more money
The complainant alleged that the group later encouraged members to subscribe to an initial public offering described as “Acetech E-Commerce NSE SME QIB”. The platform showed that he had been allotted shares worth ₹13,00,18,48.20 and projected profits of ₹77,81,034.67 if he invested more funds.
Believing the claims, Rao said he continued depositing money into the platform.
However, he later found that withdrawals had been disabled. Group administrators allegedly told him the institution had invested heavily in a buyback and that withdrawals would reopen on March 9, 2026.
When he attempted to withdraw funds on that date, the platform demanded a 20% commission payment in advance. The withdrawal option remained disabled, the WhatsApp group was muted, and administrators stopped responding to messages.
Victim alleges forged app and website
Rao told police that he later realised the investment platform was fraudulent and that the trading profits displayed on the app were fictitious.
In his complaint, he alleged that the accused created a forged application and induced him to transfer ₹34,97,014.16 to various bank accounts and UPI IDs linked to the operation. He said he had not received any refund.
The complaint names several WhatsApp users, including Diya Mehra, Prof. Balasubramanyam.
Police have been requested to initiate legal action against the owners and operators of the website and associated accounts for allegedly causing wrongful loss to the complainant.
