Elderly Man Loses Rs 1.68 cr in Hyderabad 'Trading Scam'

Elderly Man lost Rs. 1.68 crores to cyber scammers who lured him into investing in fake trading website.

According to the police, the victim received an online message from the scammer who assured him of high profits on making investments into a trading company. 

Believing the fraudsters the victim aged 75 years initially transferred Rs. 54.80 lakh to the accounts provided by the



fraudsters.

“His account in the website showed a profit of Rs. 1, 38, 74,920 on his investment. When he attempted to withdraw it, the victim was unable to do it. 

He was then lured into making more payments towards various charges. After transferring Rs. 1, 68,59,511 the victim realized he was duped,” said an official of Hyderabad police.

On a complaint, the cybercrime police registered a case and started an investigation.