Hyderabad Man Loses Fortune to Online Investment Scam

Cyber Crimes

Posted by AI on 2025-09-26 02:49:29 | Last Updated by AI on 2026-06-25 09:01:15

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In a shocking revelation, a Hyderabad resident has fallen victim to a sophisticated online investment scam, losing a staggering Rs 2.7 crore. The 34-year-old businessman, a resident of Saidabad, was lured into a web of deceit by fraudsters posing as financial advisors. The incident highlights the growing sophistication of cybercrime and the urgent need for public awareness and vigilance.

The victim, who wishes to remain anonymous, recounted his ordeal, which began in 2023 when he received a WhatsApp call from a Philippines-based number. The caller, identifying himself as Naresh Gopal, offered financial advice, eventually adding the unsuspecting businessman to a Telegram group named 'Financialassistance_179 Investment Group.' The group's purpose seemed legitimate: to provide investment opportunities. The victim was then instructed to download an app, 'HappyAce,' through a link, which would later become the instrument of his financial demise.

Over time, the fraudsters gained his trust by initially crediting small profits. Between May 2023 and September 2025, the businessman invested a substantial Rs 2.9 crore through 1,448 bank transactions. The fraudsters kept him engaged by returning a mere Rs 20.4 lakh during this period. The victim's trust was further manipulated by displaying a virtual balance of Rs 5 crore in his account. However, when he attempted to withdraw funds after his last deposit, he received only Rs 4 lakh, and his access to the app was subsequently blocked.

The Hyderabad cybercrime police have registered a case under various sections of the IT Act and the BNS, including organized crime and forgery. They are currently analyzing bank transaction details to trace the perpetrators. This case serves as a stark reminder of the dangers lurking in the digital world and the importance of exercising caution when engaging in online financial activities.

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