A 52-year-old resident of Nallakunta in Hyderabad was cheated of more than ₹45 lakh in an online investment fraud that operated through Facebook advertisements and a WhatsApp group.
The victim came across a sponsored advertisement on Facebook claiming to be from so-called Investec Pvt. Ltd. The advertisement promised guidance on stock market trading and investments and redirected him to a WhatsApp group titled, Study Circle, where several members claimed to be teaching trading strategies and investment techniques.
After gaining the victim’s confidence, the group administrators persuaded him to download a trading application shared through the group. He initially invested ₹50,000 and was shown modest returns, which encouraged him to continue. Over the following weeks, he was repeatedly induced to invest larger sums by one Professor Mukul Kochhar and his assistant.
The fraudsters falsely informed him that he had been allotted IPO shares of ICICI Prudential and Global Ocean Logistics under an over-subscription category, a claim used to pressure him into depositing more money. In total, the victim transferred ₹45,01,017 to accounts provided by the group.
The trading application showed spectacular and entirely fabricated profits, displaying a balance of more than ₹6.19 crore. However, when the victim attempted to withdraw the amount, his requests were repeatedly rejected on various pretexts. He then realised he was cheated and immediately lodged a complaint through the National Cyber Crime Helpline by dialling 1930. The cyber crime wing of Hyderabad police booked a case and initiated a probe.
Cybercrime officials said such scams typically begin with fake advertisements on social media platforms using the names of reputed companies. Victims are then added to WhatsApp or Telegram groups with reassuring names such as “Study Circle” or “Trading Academy”, where fraudsters pose as professors, analysts or investment experts. Victims are shown false profits on fake apps or websites and are pressured into making large deposits, often in the name of IPO allotments or premium trades. Once substantial amounts are transferred, withdrawals are blocked and communication is gradually cut off.
Meanwhile, the police urged people to exercise extreme caution while investing online and to verify whether companies and trading platforms are registered with the Securities and Exchange Board of India before transferring money. They warned against trusting investment offers circulated through social media or messaging applications and cautioned people not to install unknown trading apps shared via links.
Anyone who suspects they have fallen victim to an online investment fraud has been advised to immediately call the National Cyber Crime Helpline on 1930 and lodge a complaint on the cybercrime portal.
