Now Reading: Two lose Rs 1.58 crore in separate stock scams
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Two lose Rs 1.58 crore in separate stock scams
Hyderabad Cyber Crime police registered two FIRs on Thursday after two city residents lost a combined Rs 1.58 crore in separate online stock investment frauds. In the first case, a 36-year-old businessman…
Hyderabad Cyber Crime police registered two FIRs on Thursday after two city residents lost a combined Rs 1.58 crore in separate online stock investment frauds. In the first case, a 36-year-old businessman from Sultan Shahi was added to a Telegram group in May after clicking a WhatsApp link. He invested Rs 86.5 lakh after being promised 15-20% returns by a fraudster named Arvind, but was asked to pay an additional Rs 16.5 lakh to withdraw his money.
In the second incident, a 56-year-old woman from Saidabad was lured by a Facebook ad featuring a fake video of Union finance minister Nirmala Sitharaman promoting a trading platform. She transferred over Rs 71.8 lakh between May and July after being allowed to withdraw Rs 1,000 initially. The fake app showed virtual profits of Rs 9.85 crore but she could not withdraw them. Cases were registered under sections of the IT Act and BNS.
Indian Opinion Analysis
Both sources treat the scams as straightforward crime reporting with no political slant. The Times of India leads with the total loss amount and gives equal weight to both victims. The Hindu, in a separate story, covers a different investment dispute involving a 73-year-old man threatened over Rs 65 lakh, framing it as a criminal intimidation case rather than a scam. Neither outlet takes a pro-government or critical stance. The common thread is the rise of Telegram-based fraud, with fake celebrity endorsements as a key lure. Watch for police updates on arrests as investigations continue.
Coverage: 2 sources, 2 neutral
Sources (2): timesofindia.indiatimes.com (neutral report), thehindu.com (neutral report)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
