KPHB businessman loses ₹7.8crore in online investment scam
HYDERABAD: A 55-year-old businessman from Kukatpally Housing Board (KPHB) Colony, Hyderabad, was allegedly duped of ₹7.88 crore by cyber fraudsters who lured him into investing through a fake trading platform.
According to the complaint filed on October 8, 2025, Pasungula Nageswarao, son of Seshaiah, residing in Bhagath Singh Nagar, KPHB, told police that two persons identified as Satyanarayana (UK number +44-7350348834) and Vaishali (Indian number 9358166093) contacted him via WhatsApp and introduced him to an investment platform called ‘Finalto Indus’.
Victim invested ₹7.8 crore over 65 days
Nageswarao stated that he was persuaded to invest in stock trading linked to India and the United Kingdom. Initially, he transferred ₹45,000 via UPI to an account linked to “Kali (lakhansaini22@ybl)”on July 25, 2025. His account soon reflected a 15% profit, and he even withdrew ₹8,600, which boosted his confidence.
Encouraged by the apparent returns, Nageswarao continued investing over the next 65 days, transferring a total of ₹7,88,18,233.20. His online dashboard showed a profit of about ₹11 crore. However, when he tried to withdraw his funds on September 30, 2025, the alleged fraudsters demanded a “capital gains tax” of ₹3 crore for release of the amount.
Police register cyber fraud complaint
Realising he had been duped, the businessman approached the police and lodged a complaint. A case has been registered and the matter is being investigated by the cybercrime unit.
