Hyderabad woman loses ₹80 lakh in trading scam
HYDERABAD: A woman from Miyapur lost ₹80.97 lakh after trusting unknown persons who contacted her on WhatsApp and lured her into a stock trading scam.
Police registered a case at the Cyberabad Cyber Crime police station following her complaint.
Fraud begins with WhatsApp group invitation
The victim, Namburu Chandrakala, a private employee, was added to a WhatsApp group on January 10. A person identifying himself as “Professor Balasubramaniam” posted messages claiming to teach trading skills.
Believing the claims, she downloaded an app suggested in the group and began investing in the stock market.
Initial profit builds trust, losses follow
She first transferred ₹1 lakh and received returns. Trusting the app, she continued investing and transferred a total of ₹80.97 lakh.
The app later displayed her investment growing to ₹3.99 crore, including profits. However, it did not allow any withdrawal.
Realising she had been cheated, she filed a complaint with Cyber Crime police on Sunday.
