Archive · 6 Sep 2025
Hyderabad Man Loses ₹29 Lakh in Fake IPO Scam
A man in Hyderabad was tricked into a fake investment scheme and lost a lot of money.
Scammers contacted him through Facebook and added him to a large WhatsApp group.
They showed him fake profits to get him to invest more.
When he tried to take his money out, they asked for extra fees and taxes.
The scammers even threatened to give his money to charity if he didn't pay.
The man was never able to get his money back, and the police are now investigating.
A Hyderabad man lost ₹29 lakh to an online IPO scam.
He was contacted through Facebook and added to a WhatsApp group.
The group appeared genuine with over 200 members.
Scammers displayed fake profits on a fraudulent trading app.
Victim was asked to pay fees and taxes before withdrawing funds.
- Who
- A 40-year-old man.
- What
- Lost ₹29 lakh in a fake IPO investment scam.
- When
- Saturday.
- Where
- Hyderabad, India.
- Why
- Lured by false promises of profit in an online investment scheme.
- Victim
- 40-year-old man from Yousufguda
- Loss
- ₹29 lakh
- Method
- Fake online IPO investment fraud
- Initial Contact
- Facebook, then WhatsApp group
- Group Size
- Over 200 members
- Fraudulent Trading App Balance
- ₹42,86,947
- Demands
- 18% fee (₹3.11 lakh) and 20% tax to withdraw funds
