A complaint has been filed against cybercriminals for allegedly defrauding a Hyderabad-based businessman of Rs 85 lakh by luring him with a phoney stock market investment scheme.
A Hyderabad-based businessman has allegedly defrauded Rs 85 lakh by cyber crooks after he began engaging in online share trading. In his police complaint, the victim, Prabhakar Reddy, a native of Suryapet, stated that the fraudsters enticed him with a phoney stock market investment scheme. According to the victim, in 2017, Reddy received a call from a woman claiming to be a corporate executive. She persuaded Prabhakar to invest in internet stock trading, promising him enormous returns.
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Reddy put in Rs 85 lakh, which was transferred to the caller’s numerous bank accounts. When Reddy urged the fraudster to send the profit to him, the latter switched off his phone, exposing the deception. When Prabhakar Reddy realised he had been duped, he went to the police station and filed a complaint. The bank accounts provided to the victim were operated from Bengaluru, according to the police who filed a report. The fraudsters are being hunted down.
A group of youngsters were duped of Rs 16 lakh in cryptocurrencies in Hyderabad
By investing in cryptocurrencies, recently a group of youngsters have been duped for Rs 16 lakh. The group of friends were lured by higher bitcoin profits, but they lost all of their money. One of the victims, according to the authorities, befriended someone on Facebook who persuaded him to invest in bitcoin trading by downloading an app. The victim, believing him, downloaded the app and created an account on his phone. He then made a profit after investing a few lakhs.
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The victim, at the fraudster’s suggestion, told his friends about it and sparked their interest by claiming to have made money. His friends have also invested in the cryptocurrency market. They did not, however, make any money and we’re out of pocket. When they realised they had been deceived, they went to the cybercrime police in Hyderabad. Based on a complaint, the police have opened a case and are conducting an investigation.
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