Retired govt employee in Hyderabad loses 25.6 lakh in fake stock trading scam

Hyderabad: A 79-year-old retired govt employee from Chikkadpally has lost 25.6 lakh after reportedly investing through two bogus stock trading portals promoted using fake videos of public representatives and other popular personalities. On the victim's complaint, Hyderabad Cyber Crime police have registered a case and launched a probe.The victim clicked on Facebook and Instagram advertisements promoting guaranteed daily returns on stock market investments in Nov 2025. "In the fake video advertisements, public figures like Nirmala Sitaraman, Sudha Murthy and Sadguru were seen endorsing certain investment platforms promising high and guaranteed returns," the victim said.Upon clicking the advertisements, he was redirected to www.vi****a**.net and www.main.q*****-ai.com. The victim was added to WhatsApp groups, and fraudsters posing as stock market experts, Rohit Sinha, Kapil Saini and Karan Agarwal, got in touch with the victim from the UK and Indian numbers."They introduced me to general concepts of web-based trading and encouraged me to invest. Subsequently, I was also invited to attend online meetings via video conferencing platforms and told to transfer money to different bank accounts through the platforms towards investment in stocks," the victim alleged. He transferred 25.6 lakh between Nov 26, 2025 and Jan 21, 2026. When he tried to withdraw the amount, the fraudsters kept insisting on additional amount towards various taxes. The victim realised the fraud and approached police on March 21. On his complaint, a case was registered under Sections 66-C, 66-D of the Information Technology (IT) Act, 318(4) (Cheating and dishonestly inducing delivery of property), 319(2) (Cheating by personation), 336(3) (Forgery for purpose of cheating), 340(2) (using as genuine a forged document or electronic record) of the Bharatiya Nyaya Sanhita (BNS).