Hyderabad cyber fraud cheats former IPS officer’s wife of ₹2.58 crore
HYDERABAD: Cyber fraudsters cheated the wife of a former Indian Police Service officer of ₹2.58 crore in Hyderabad by luring her with fake stock market trading tips, police said.
The accused first contacted the victim through a WhatsApp message, promising guidance on stock market trading. As she was unfamiliar with trading, her husband’s number was later added to the WhatsApp group.
The fraudsters claimed investors would earn 500% returns and said the platform was a Securities and Exchange Board of India-certified website. To gain trust, they shared forged SEBI certificates through WhatsApp.
Believing the claims, the victim transferred money between December 24 and January 5. Police said she made 19 transactions, investing a total of ₹2.58 crore.
When she stopped investing, the fraudsters pressured her to put in more money, warning that her existing investment would be lost if she did not continue. Realising she had been cheated, the victim approached the Hyderabad Cyber Crime Police.
Police registered a case and launched an investigation. According to preliminary information, the victim’s husband had earlier served in a key role with a central investigation agency.
