Hyderabad woman loses over Rs 2 crore in stock market investment scam

Hyderabad: A 45-year-old woman from Kothaguda lost over Rs 2.3 crore to fraudsters posing as stock market investment advisers.Based on her complaint, the Cyberabad cybercrime police registered a case.According to the complaint, on Nov 28, 2025, she clicked on an advertisement on a social media platform for tips on investing in the stock market. After clicking the ad, she was added to an investment discussion group — CAPSTONE IN (A14 Indian books discussion group) — on WhatsApp. "The group was presented as a training forum run by a fraudster posing as professor Prem Prakash Varma and his associate, Anli," the victim said.After gaining her confidence, the duo asked the victim to download the Capstone IN app through a web link and open an institutional trading account on the app. They displayed screenshots of large profits and smooth withdrawals to reinforce credibility.Believing them, between Dec 23, 2025 and Jan 19, 2026, the complainant transferred over Rs 2.3 crore to 11 bank accounts provided by the fraudsters in 17 transactions. The app interface showed the balance in the victim's account as Rs 14.7 crore through simulated gains in upper-circuit stocks and IPOs.When the victim tried to withdraw her investment, the fraudsters demanded an additional 15% advance tax. After she paid an additional Rs 15 lakh, taking the total investment to Rs 2.3 crore, communication stopped and the WhatsApp group became inactive.On realising the fraud, the victim filed a complaint with Cyberabad police on Wednesday. A case was registered under sections 318(4) (cheating), 319(2) (cheating by personation), 336(3) (Forgery for purpose of cheating), 338 (forgery of valuable security, will, etc.) and 340(2) (Using as genuine a forged document or electronic record) of the Bharatiya Nyay Sanhita, read with section 3(5) (common intention), and section 66-D of the Information Technology Act.