Retired civil engineer duped of ₹24.5 lakh in online investment scam
HYDERABAD: A 75-year-old retired civil engineer from Ramkote has lodged a complaint with Hyderabad Cyber Crime police alleging that he lost ₹24.5 lakh to fraudsters who lured him through a fake online investment scheme purportedly endorsed by finance minister Nirmala Sitharaman(DeepFake AI video)
In his complaint, Jitendra Kumar Prataprai Kapashi, resident of Ramkote, stated that he came across a YouTube video on September 9, 2025, showing the finance minister promoting a scheme promising fixed monthly returns and growth on the initial investment. He said he clicked on the link in the video, entered his details and soon received a call asking him to register on the website www.tradgrip.com.
Funds transferred through website and Indian bank accounts
According to Jitendra, the callers guided him to make initial payments through his credit card and later provided Indian bank account details to which he transferred more money. Between September 23 and October 16, 2025, he deposited a total of ₹26.36 lakh into various accounts and received back only ₹1.77 lakh in instalments.
The complainant said the app displayed a profit balance of USD 34,000, but when he tried to withdraw it, he was told to upgrade his account from “Silver” to “Gold” by paying an additional USD 15,000. Suspecting foul play, he stopped trading on October 16 and cut off contact after the fraudsters continued demanding more payments.
Cyber police investigating
Jitendra requested the Cyber Crime police to investigate the fraud and trace the persons behind the platform. Police said a case was being verified and appropriate action would be taken under relevant sections of the Information Technology Act and the Indian Penal Code.
