Businessman duped of Rs 85 lakh in Hyderabad

Cyber criminals allegedly duped a Hyderabad-based businessman of Rs 85 lakh after he began investing in online share trading. The victim identified as Prabhakar Reddy, a native of Suryapet in his complaint to the police said that the fraudsters lured him with fake investment plan in stock market.

According to the victim, Reddy got a call from a woman in 2017 who claimed to be of an executive of the company. She asked Prabhakar to invest in online share trading, promising him of huge profits. Believing her, Reddy invested Rs 85 lakh which was transferred to various bank accounts shared by the caller.

The fraud came to fore when Reddy asked the fraudster to transfer the profit to him and the latter switched off the mobile phone. On realising that he was cheated, Prabhakar Reddy approached the police and lodged a complaint. The police who registered a case, found that the bank accounts provided to the victim are being operated from Bengaluru. Efforts are underway to nab the fraudsters.