A 34-year-old private doctor from Hyderabad’s Kothapet allegedly lost ₹1.49 crore after fraudsters lured him into investing through a fake online trading platform.
The scam began on May 4 when the doctor joined a Telegram group promoting stock trading and investment opportunities. He was subsequently contacted by people posing as professional traders and investment experts.
A woman identifying herself as Myra Sharma later approached him on WhatsApp, along with others who claimed to offer lucrative trading and investment programmes. Convinced by their assurances, the doctor downloaded a trading application through a website shared by the suspects and began transferring money.
Between May 4 and June 29, he made 59 transactions totalling ₹1,49,33,593 through the application.
The fraud came to light when he attempted to withdraw his funds. The suspects allegedly told him that his “credit score had fallen” and that the money could not be released. They then demanded additional payments, claiming these were necessary to resolve the issue and process the withdrawal.
Realising that he had been deceived, the doctor approached the Malkajgiri cybercrime police. A case has been registered, and investigators are now probing the transactions and attempting to trace those behind the fake trading operation.
The case highlights a common pattern in online investment fraud, where victims are first shown apparently successful trading accounts before being blocked from withdrawing their money and pressured to make further payments.
