A 68 -year -old retired man from Secunderabad was cheated on 61.95 GBP Lakh in fraud with online trading involving cyber criminals operating under the guise of an international trading platform.
The scam began on March 27, when the victim made an initial investment of 21,000 GBP after discovering the website operated by a company that identified itself as experts for Ltd. Shortly after the first investment, the platform representative began to contact the victim regularly. Scamster, who introduced himself as a business expert, offered knowledge about market trends and secured a victim of high returns. As a newcomer in shares trading, the victim was introduced to Scamster and carefully watched his advice.
The fraudster permanently encouraged the victim to invest more money to quote reasons, such as “the level of margin has fallen under livelihood”. Despite the repeated requests of the victim who explained that he was not looking for profit, but simply wanted to leave and raise his money, the scammers refused to allow any withdrawals, although it seemed that the account had substantial profits.
Over the next few weeks, the victim trying to organize funds and under emotional pressure continued to transmit money. In May he exhausted all his financial resources. On May 21, when she traveled with her family, the victim informed Scammer that she would not be available for a few days. Scammer assured him to manage his account in his absence.
When returning home, however, the victim began to receive repeated calls from the same individual. After the answer, he was told that the margin levels fell drastically and was under pressure to make an urgent payment of 10 lakh. When the victim hesitated, he took the call another voice that was suspected of another member of the fraudulent operation and intensified pressure. A heated exchange followed and the victim refused to transfer more money.
Although the victim stopped responding to calls after the incident, the scammers were far from being done. A few days later he was contacted by another individual and claimed to be an recovery agent that could help get lost funds and demand a new investment. Since then, the victim has received several annoying calls every day.
To date, the trading platform continues to show an account balance of $ 75,000, but all download attempts have been rejected. The fraudsters insist that further payments are obliged to “unlock” profits and maintain a fraud cycle. After the victim’s complaints, the investigation of the cyber crime of Hyderabad began.
Published – May 30, 2025 22:16
