Top News

Hyderabad: A 27-year-old chartered accountant from Hyderabad was duped of Rs 2 crore in a stock investment scam after fraudsters posing as trading experts lured him with promises of high returns.

The victim approached Hyderabad cybercrime police on August 12 and lodged a complaint stating that he was contacted by the fraudsters through Telegram and email in November 2025.

The accused allegedly posed as stock market experts and convinced him to invest in stocks through the Exness trading app, promising substantial returns.

The CA initially invested Rs 2 lakh through the app. Within a few days, his trading account showed profits of around Rs 5 lakh. The fraudsters then convinced him that the returns were genuine, following which he invested another Rs 5 lakh and received about Rs 9.5 lakh in returns, according to his complaint.

Convinced by the apparent profits, the victim invested Rs 2.4 crore through 52 transactions between November and December 2025. He had also taken loans to make the investments, he told police.

However, the fraudsters eventually stopped responding to messages in the group chat. The victim’s Telegram chat history with the accused was also cleared.

He later discovered that the Exness app had been removed from the Google Play Store over alleged fraudulent activity. After failing to contact the accused and making attempts to recover the money through banking channels, the victim approached the National Cyber Crime Reporting Portal on July 27.

He subsequently lodged a complaint with Hyderabad cybercrime police on August 12.

Police have taken up the complaint and are investigating the transactions and the persons behind the alleged investment scam.

Also Read: Cyberabad software engineer loses Rs 25.85 lakh in online scam