PSU employee loses ₹2.22 crore in fake investment scam

A PSU employee from Sanathnagar lost ₹2.22 crore to cyber fraudsters after he was lured into a fake online investment scheme that was promoted through advertisements on social media platforms. The Hyderabad Cyber ​​Crime Police has registered a case.

According to a wing officer, the victim came across advertisements on Facebook promising attractive returns through investment opportunities. After he expressed interest, he was contacted by fraudsters and persuaded to join purported investment platforms. They also added him to several WhatsApp groups apparently run by financial advisors and stock market analysts.

The fraudsters gradually gained his trust and convinced him to invest the money in stages. Believing in the legitimacy of the scheme, the victim transferred a total of ₹2.22 crore to several bank accounts provided by the accused.

To perpetuate the scam, the fraudsters displayed a balance of nearly ₹3.1 crore on the fake investment app, leading the victim to believe that his investments had yielded substantial profits.

However, when he tried to withdraw the amount, the fraudsters demanded additional payments under the guise of taxes, processing fees and other charges. Realizing that he had been cheated, the victim approached the police, who registered a case and started an investigation.

Published – 14 Jun 2026 20:19 IST