Hyderabad: A youngster has lost over Rs 60 lakh to cybercriminals, lured by their fraudulent promises of high returns on investment. About Rs 20 lakh of this money came from the sale of a family-owned property, cybercrime police said.
The youngster from Balanagar, who owns a private firm which provides raw material to pharma companies. Police said he received a message offering huge returns on doing simple tasks.
The gang offered him quick, but small, returns. This led him to invest more money with them for completing tasks at higher levels for which he was promised more returns. He was also added to Telegram groups operated by the fraudsters.
This process continued till he paid them a total of Rs 60 lakh at different times. The fraudsters told him that his returns had amounted to Rs 2 crore, and he could withdraw it by paying Rs 20 lakh more. That is when he went to the police.
