Hyderabad: Cyberabad police book woman in ₹67 lakh forex investment scam
HYDERABAD: Cyberabad police have registered a case against a woman accused of cheating an investor of ₹67 lakh through a purported digital forex and share investment scheme, police said.
The case was received from Madhapur police station under Sections 316(2) and 318(4) of the Bharatiya Nyaya Sanhita (BNS) and Section 5 of the Telangana State Protection of Depositors of Financial Establishments Act (TSPDFEA). The action followed instructions from the Cyberabad Police Commissioner vide memo dated March 10, 2026.
Investments made between August 2024 and March 2025
According to the complaint filed by Kandukuri Revanth, a private employee residing in Madhapur, he was introduced to Lavanya Konidela, proprietor of M Trade Digital, in August 2024 through a mutual contact.
Lavanya allegedly claimed that her firm operated from Sriram Tower in Madhapur and offered online forex and share investment plans with fixed monthly returns of 5% and an additional 3% on capital. She also assured investors of full principal repayment after a stipulated period.
Trusting these claims, the complainant and his family invested significant amounts. His sisters, residing in the UK, transferred ₹10 lakh each through ICICI Bank. Additionally, ₹47 lakh was transferred from his father’s account. In total, ₹67 lakh was transferred between August 2024 and March 2025.
Returns stopped after initial payments, complainant alleges
The accused allegedly paid monthly returns until March 2025 but later defaulted. Despite repeated follow-ups, only a partial payment was made on June 4, 2025, after which payments stopped completely.
The complainant stated that the accused avoided calls, gave assurances, and later began evading communication altogether.
He also alleged that she threatened him with false police cases if he attempted to contact her or visit her residence or office.
WhatsApp groups used to attract investors, says complaint
The complaint further alleged that the accused operated WhatsApp groups, including “MTrade Digital Forex Trading Fund Management Services” and “Crypto 101 Crores Club”, to attract and mislead investors with false profit updates and activities.
The complainant requested police to initiate legal action, stating that the accused followed a pattern to defraud multiple investors.
Police said further investigation is underway.
