Contractor loses Rs 56L to scammers

Hyderabad:A contractor suffered a loss of Rs 56 lakh after he fell victim to an online trading scam. He was lured by promises of high returns through an online trading platform. The victim filed a complaint with Rachakonda cybercrime wing and a probe is underway.

According to the complainant, the ordeal began in December 2024 when he came across an advertisement on Google about Aditya Birla OTC Account trading platform. He was impressed by the offer. He subscribed to the platform and was soon added to a WhatsApp group. He was contacted by an individual named Arya Anand, who guided him through the process.

The victim then opened his trading account and invested an initial amount of Rs 1 lakh. He began receiving small profits and this whetted his interest to continue investing. He invested up to Rs 56 lakh drawn in by promises of high returns and the chance to invest in upcoming IPO shares.

However, when he attempted to withdraw his funds, he was told that a 20 per cent service charge was required to be paid in advance. The victim then requested to deduct the fee from the invested amount but he was told that it is not the procedure. He then found that he was being manipulated to invest and was duped.

He filed a complaint with the cybercrime wing in Rachakonda Commissionerate mentioning the total loss of Rs 56 lakh.