Hyderabad businessman loses ₹53.9lakh in online trading scam posing as UBS platform
HYDERABAD: A Hyderabad-based businessman was allegedly duped of ₹53.99 lakh by fraudsters running a fake online trading platform under the name “UBSIN,” police said on October 27, 2025.
Victim lured through Facebook ad promising stock trading profits
According to the complaint lodged by D. Somasekhar Reddy, 48, a resident of Telecom Nagar Extension, Gachibowli, he was introduced to the fraudulent website www.ubsin.net through a Facebook advertisement on October 21, 2025. The ad claimed to help investors improve their trading skills under the guidance of one “Prof. Aditi Sharma” (phone: +91 7041762810).
Contacted by fake trading analysts
Reddy stated that soon after registering on the platform with his email somureddy.d@gmail.com, he was contacted by a woman identifying herself as “Marry” (phone: +91 7997029364), who claimed to be a “group analyst” for UBS Institutional Accounts. She allegedly guided him to download a trading app named “UBSIN” from the link https://www.ubsin.in.net and helped him set up an account (UID 2368).
Believing her assurances of high returns from “block trading” and “IPO allotments,” Reddy initially transferred ₹50,000 from his ICICI Bank account to an account in the name of Janaki Pradhan (A/c No. 1515102000004602, IFSC IBKL0001515, Branch Nayagarh). Between July 15 and August 12, 2025, he made several further transfers, amounting to ₹53.99 lakh, to various bank accounts provided by the accused.
Virtual profits shown to lure more investment
The complainant said the fraudsters displayed large virtual profits—showing ₹90.72 lakh in his account—to convince him to invest more. Later, they claimed he had been allotted 6,000 shares worth ₹27 lakh in the Capital Small Finance Bank IPO and demanded an additional ₹5 lakh as “commission” to release his profits.
When he tried to withdraw funds on August 12, all withdrawal options were disabled and the WhatsApp group went inactive. Realising he had been defrauded, Reddy approached the Cybercrime Police seeking legal action against the operators of the fake domain, associated WhatsApp users, and beneficiaries of the transferred funds.
