Now Reading: Surgeon loses Rs 2.3 crore in fake stock trading scam
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Surgeon loses Rs 2.3 crore in fake stock trading scam
A 47-year-old surgeon from Hyderabad lost over Rs 2.3 crore in a fake stock market investment scam that ran from July to October 2025. The victim was added to a WhatsApp group…
A 47-year-old surgeon from Hyderabad lost over Rs 2.3 crore in a fake stock market investment scam that ran from July to October 2025. The victim was added to a WhatsApp group where a man claiming to be a stock analyst offered institutional trading opportunities. He was allowed to withdraw Rs 50,000 once, which led him to trust the platform and transfer more money.
The fraudsters created a fake trading platform and showed a virtual balance of Rs 26 crore. When the surgeon tried to withdraw, they demanded payments for taxes and commissions. After months of delay, he verified the platform independently and realised he was cheated. Cyberabad cyber crime police registered a case under the BNS and IT Act. Investigations are ongoing.
Indian Opinion Analysis
Fake trading apps and WhatsApp investment groups have become a common fraud pattern in Telangana, with the state cyber security bureau reporting over Rs 600 crore in losses to such scams in 2024 alone. Victims are typically lured by small initial withdrawals and fabricated profit screenshots posted by accomplices in the group. The fraudsters often use offshore servers and mule bank accounts, making recovery of funds difficult. The surgeon's case, filed under the BNS and IT Act, will now depend on the police tracing the money trail and identifying the accounts used. A similar scam reported in Cyberabad earlier this year involved a retired teacher losing Rs 1.8 crore, highlighting the need for investor awareness and verification of trading platforms before transferring money.
The TGCSB has previously issued advisories asking investors to use only SEBI-registered intermediaries and to verify platform URLs for authenticity.
Source: timesofindia.indiatimes.com
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