IT employee duped of ₹38 lakh in online investment scam
Fake Motilal Oswal trading group lures victim through WhatsApp
HYDERABAD: An IT professional from Medipally in Medchal–Malkajgiri district reportedly lost ₹38.9lakh to cyber fraudsters who posed as representatives of Motilal Oswal Financial Services Ltd.
According to police, the complainant, Mohammed Kaiser, 41, of Ayodhya Colony in Pragathinagar, came across an advertisement for Motilal Oswal on Facebook on July 24, 2025. After registering through a link, he received a WhatsApp message from +91 82920 69328 with a Play Store link to download a fake trading app (https://www.azbho.com).
Victim misled through WhatsApp group ‘T7 Motilal Oswal Stock Market Learning Group’
Kaiser was later added to a WhatsApp group administered by individuals identifying themselves as Ananya Mehta and Rajat Rajgarhia, who guided him to invest in stock and IPO trading. He initially invested ₹10,000, and later larger sums — including ₹1,96,000 in “Vikram Solar” and ₹11,70,000 in “Vikram Engineering” — under the purported Qualified Institutional Buyers (QIB) category.
The fraudulent app displayed significant profits, but when Kaiser attempted to withdraw funds, he was told to pay multiple “fees” — a 30% commission, 20% tax, and 30% SEBI withholding — totalling ₹38,98,771. Despite making all payments in 14 transactions, no withdrawal was processed, and more money was demanded. Realising the scam, he approached Medipally police station, seeking action against the fraudsters.
Police registered a case and began an investigation
