A major cyber fraud case has shocked Hyderabad after a doctor from the Erragadda area lost nearly Rs 14 crore. The fraud was carried out under the guise of stock market investments, exposing the dangers of online financial scams.
According to police, the doctor was first contacted through social media. Cyber criminals used fake profiles with photos of attractive women. They slowly gained his trust through regular chats and polite conversations.
The fraudsters claimed they had expert knowledge of the stock market. Initially, the doctor invested small amounts. He was shown fake profits through manipulated apps and screenshots, which convinced him the scheme was genuine.
Encouraged by the fake returns, the doctor began investing larger sums. Over time, he transferred massive amounts of money. He even sold his house to arrange additional funds for the investments.
In total, the doctor lost nearly Rs 14 crore. The money was routed through mule bank accounts to conceal the identities of the main fraudsters. This made tracking the funds more difficult for investigators.
Police arrested four individuals who provided the mule accounts. These accused helped move the money to the main cyber criminals. Investigators believe the masterminds are operating from Cambodia.
The doctor realised he had been cheated when the promised returns stopped. He then approached the police and filed a complaint. The case is currently under investigation.
This incident serves as a serious warning to the public. People must remain cautious of online investment offers and unknown contacts on social media.
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