Hyderabad techie loses ₹1.5 crore in investment scam
On December 9, fraudsters deposited ₹1.5 lakh, falsely showing ₹36 crore profit, duping the Hyderabad techie completely.
A 41-year-old engineer, employed at City Bank in Pune and originally from Khammam, was allegedly duped of ₹1.5 crore by cyber fraudsters in Hyderabad after being lured into fraudulent stock investment schemes. The incident, reported to the Telangana Cyber Security Bureau (TGCSB), has highlighted the growing sophistication of online investment scams and the risks faced by unsuspecting investors.
In his complaint to the TGCSB, the victim explained that he was introduced to an online investment platform in November 2025 through his sister, who came across an Instagram advertisement promoting high returns. After clicking the link, she was added to two WhatsApp groups — ‘Z926 one-to-one Service’ and ‘L Accel Partners Stock Exchange Group’ — where the fraudsters promised returns of up to 500 percent.
One of the fraudsters, identifying herself as Deeksha Bhandari, convinced the victim to download the “ACEFD” app and initially transfer ₹60,000. Following this, the victim’s sister shared his contact details with the fraudsters, who then guided him to install another app, “ACESEC,” and coached both siblings on how to invest, showing them fake profits to build trust.
From November 19, 2025, to January 14, 2026, the siblings transferred money from six different bank accounts to nine accounts controlled by the fraudsters. On December 9, the scammers deposited ₹1.5 lakh into the victim’s account, displaying a fake profit of ₹36 crore. When the victim attempted to withdraw the money, he was asked to pay ₹36 lakh as a “service charge” and ₹20 lakh as an “income tax deposit,” exposing the scheme’s deceitful nature.
Following the complaint, the TGCSB registered a case under multiple sections, including 61(2) for criminal conspiracy, 318(4) and 319(2) for cheating and impersonation, 338 for forgery, 340(2) for using forged documents as genuine, and sections 66(C) and 66(D) of the IT Act related to cybercrime. The case is now under investigation as authorities work to trace the fraudsters and recover the victim’s lost funds.
This incident serves as a stark reminder for investors to remain cautious of online schemes promising unusually high returns, and to verify platforms and advisors before transferring funds.