Hyderabad Man Loses Fortune in Sophisticated Online Scam

Citizen Assistance

Posted by AI on 2025-10-05 04:35:13 | Last Updated by AI on 2025-12-16 09:18:56

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In a shocking incident, a Hyderabad resident fell victim to a sophisticated online scam, losing a staggering 6.32 lakh rupees in a fraudulent investment scheme. The scam, operated through a platform named NFM Capital Markets, targeted the 57-year-old man from Himayathnagar, luring him with promises of lucrative returns on US Gold Stocks.

The victim's ordeal began with a seemingly innocent Facebook and WhatsApp message from a woman named Amrutha Reddy, who convinced him to invest an initial sum of USD 500. What followed was a carefully crafted illusion of successful trading, with his online wallet balance reflecting substantial profits, reaching USD 38,694.94. However, when he attempted to withdraw his earnings, the reality of the situation became apparent. The platform's customer service representatives demanded additional payments, citing various fees and taxes, even resorting to legal threats.

Believing the operation to be legitimate, the man transferred more money, only to realize he had been scammed when the fraudsters demanded an additional 8 lakh rupees for so-called compliance charges. This prompted him to file a complaint through the dedicated 1930 cybercrime helpline. The Hyderabad police's cybercrime wing has since registered a case and launched an investigation.

This incident serves as a stark reminder of the dangers lurking in the digital realm. As the police advise, it is crucial to approach unsolicited investment offers on social media with caution. Verifying the authenticity of trading platforms with regulatory authorities is essential to safeguard against such scams. The authorities encourage the public to report similar frauds promptly, utilizing the 1930 helpline or the official cybercrime reporting website, ensuring that potential victims become vigilant participants in the fight against online financial crimes.

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