The record
Written from the 1 report below. Nothing here is unsourced.
- A 47-year-old Assistant Section Officer at the Telangana Secretariat lost over ₹42 lakh to a fake online IPO and stock trading scheme promoted through Instagram ads, WhatsApp groups, and an application called UP QiB Pro.
- After she clicked an Instagram advertisement, she was added to WhatsApp groups where people posing as investment experts shared tips and convinced her to transfer money to multiple bank accounts.
- The fraudsters showed fake profits on the app, applied for an IPO worth about ₹1.12 crore in her name without consent, and when she asked for her money back, froze her account and stopped responding.
- The Hyderabad Cyber Crime Police have registered a case and are trying to identify those behind the fake network.
What to watch next
- Whether police identify and locate the operators of the fake investment network.
- Whether the WhatsApp group, reported active as of August 3, leads investigators to the accused.
- Any recovery of the victim's funds or further complaints from other investors in the scheme.
Coverage1
1 report
English national1
All filed from India
Named India · Telangana Secretariat · Hyderabad Cyber Crime Police · Instagram · Kusumgar Limited · National Cyber Crime Reporting Portal · UP QiB Pro · WhatsApp · Y. Gowru Naidu
The 1 report is listed beside the record.
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