Archive · 7 Nov 2025
Cyberabad Residents Lose ₹80 Lakh to Investment Scams
Imagine three people in a city called Cyberabad got tricked by online scams.
One person, a businessman, wanted to invest money on a fancy-looking website that promised big profits.
He put in a lot of money, and it looked like he was making even more!
But then, they asked him to pay fake taxes and fees to get his money out.
Another person, who used to work at a bank, was added to a chat group where someone pretending to be a financial expert told him to invest in stocks on a fake website.
He also lost a lot of money.
The third person, who works with computers, also fell for a fake website of a known company and lost money, and only a small amount was returned.
Together, these three people lost more than 80 lakh rupees because they believed these online tricksters.
Three individuals in Cyberabad lost a combined total of over ₹80 lakh to cyber fraud within the last week.
A businessman lost ₹37.8 lakh to a fake investment website of a financial services company.
A retired bank manager lost ₹20.32 lakh to fraudsters posing as financial advisers through a WhatsApp group.
An IT employee lost ₹2.65 lakh to a fraudulent platform impersonating a US-based firm.
Victims were deceived by promises of high profits and demands for additional "taxes" and "fees" to access their funds.
- Who
- A businessman, a retired bank manager, and an IT employee from Cyberabad.
- What
- Lost over ₹80 lakh collectively to cyber fraud involving fake investment websites and financial advice.
- When
- In the last week.
- Where
- Cyberabad, with victims from Miyapur, Kompally, and Gachibowli.
- Why
- They were lured by fake investment platforms promising high profits and subsequently duped into paying additional taxes and fees.
Fraudsters
Victims
Investment Lures
Fraudsters
Fraudsters create fake websites and promise high, fake profits to entice victims into making multiple transfers.
Victims
Victims are drawn in by promises of significant profits and manipulated trading account balances, leading them to invest more.
Deception Tactics
Fraudsters
Fraudsters use tactics like impersonating reputable companies, posing as financial advisors, and fabricating "tax" or "fee" requirements to extract further money.
Victims
Victims are deceived by official-sounding demands for taxes or fees, often citing fake RBI guidelines, before realizing they have been duped.
Fraudulent Platforms
Fraudsters
Scammers create fraudulent websites and WhatsApp groups to guide victims and display fake financial gains.
Victims
Victims trust these platforms, initially seeing displayed profits, only to discover the websites are fake and have no connection to legitimate firms.
- Total Amount Lost
- Over ₹80 lakh
- Victims
- Three: Businessman, Retired Bank Manager, IT Employee
- Fraud Type
- Investment and trading scams
- Businessman's Loss
- ₹37.8 lakh
- Retired Bank Manager's Loss
- ₹20.32 lakh
- IT Employee's Loss
- ₹2.65 lakh (with ₹57,552 returned)
- Additional Fees Demanded
- "Income tax" (30%), "conversion fees" (10%)
