Retired banker loses ₹20.3 lakh in online trading scam through fake investment platform
HYDERABAD:A 61-year-old retired bank manager from Kompally in Medchal–Malkajgiri district has lodged a complaint, alleging that he was cheated of ₹20.3 lakh in an online trading fraud involving fake investment platforms and impersonation through WhatsApp and fraudulent websites. The ₹20,32,000 lakh includes all confirmed transfers, such as the IPO-related payment.
According to the complaint, Shailender Rao Joshi, resident of Kompally, he was added on January 16, 2024, to a WhatsApp group titled “6 NSE Road to Wealth”, which purportedly aimed to help people enhance their trading skills. The group was reportedly operated by a person identifying himself as Praveen Patel.
Later, another individual calling himself Chris Harper, claiming to be a financial manager, contacted Joshi privately and offered assistance in investing in Indian and U.S. stock markets. Harper directed him to a trading website (https://m.tencorepartners.net) and helped him create an account using his mobile number as the user ID.
Multiple transfers to traders’ accounts
Following Harper’s advice, Joshi transferred ₹2.5 lakh on October 29, 2025, to the account of Umair Egg Traders at the Bank of Baroda, Nizamabad branch. The next day, he sent ₹15 lakh to the same account and ₹2.82 lakh on October 31 to another account belonging to A G Traders at Unity Small Finance Bank, Vasai branch.
Harper allegedly showed him fabricated profits from “block trades” and “upper circuit stocks,” assuring easy withdrawals and zero commission. He later advised Joshi to apply for the so-called “Jayesh Logistics” IPO by investing ₹2.5 lakh for 2,000 shares.
Continuous payment demands raised suspicion
When Harper began demanding additional payments, Joshi grew suspicious. On November 1, Harper claimed that pending IPO dues would prevent trading and instructed him to deposit further funds into an account belonging to Sanjay Enterprises, Bank of Baroda, Purey Panday branch.
Upon verification, Joshi discovered that the trading platform and associated companies were fake, displaying fabricated balances and profits. Realising that he had been deceived, he reported the matter to police, seeking legal action against the website operators and domain owners. According to the complaint, Joshi suspects two other firms, GreenAngels Traders Pvt Ltd, and Divya Construction Company. Joshi had earlier reported the matter on the Cybercrime portal (Acknowledgment No. 33711250051732, dated October 1, 2025).
The Cyber Crime police registered a case upon escalation under Sections 318(4), 319(2), 336(3), 338, and 340(2) read with Section 3(5) of the Bharatiya Nyaya Sanhita, and Section 66-D of the IT Act, 2000.
