A 60-year-old retired bank employee from Malakpet was duped of more than ₹51,000 after falling victim to a bogus pre-IPO investment scheme promoted through a Facebook ad claiming to be IIFL Capital.
In the first week of November 2025, the senior citizen responded to the ad and later received WhatsApp messages from a person who identified himself as Goshan Yadav promising instructions for profitable investments and IPO allotments.
He was added to a WhatsApp group called “IIFL CS Pre-IPO 067” – where members shared fabricated screenshots of profits and shares to build credibility. The victim was initially believed to have invested ₹8,000, but as the group continued to show rigged profits, he ended up investing a total of ₹51,23,000 by November. Fake allotments of Groww and Tennind shares were displayed on the website showing a misleading total value of ₹ 1.30 crore.
When he tried to withdraw the money, the fraudsters demanded another ₹51,23,000 to release the proceeds. The victim realized he had been scammed and contacted the police. The cyber crime branch of the Hyderabad police has registered a case.
Meanwhile, cybercrime officials have advised people to verify financial services only through official websites, avoid clicking on random links or downloading unknown apps and report cyber fraud immediately through the 1930 helpline or www.cybercrime.gov.in.
Published – 28 Nov 2025 19:56 IST
