Hyderabad Businessman's Rs 7.88 Crore Online Scam Nightmare

Cyber Crimes

Posted by AI on 2025-10-10 06:44:47 | Last Updated by AI on 2026-06-25 14:14:28

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In a shocking revelation, a Hyderabad businessman has fallen victim to an elaborate online scam, losing a staggering Rs 7.88 crore. The 55-year-old, a resident of KPHB Colony, was lured into a sophisticated investment scheme by fraudsters posing as stock market advisors. This case highlights the growing sophistication of cybercriminals and the urgent need for enhanced cybersecurity awareness.

The victim's journey into this scam began on July 25 when he received a WhatsApp message from two individuals, Satyanarayana, using a UK number, and Vaishali, contacting him from India. They introduced themselves as stock market experts and directed him to a trading portal, https://www.finalto-indus.com, supposedly a joint UK-India venture. The website's promise of high returns enticed the businessman to make an initial investment of Rs 45,000, which quickly showed a 15% gain. He was even able to withdraw Rs 8,600, reinforcing the site's legitimacy.

Over the next two months, the businessman transferred over Rs 7.88 crore across 103 transactions into 35 bank accounts in 10 different states. The fraudsters' scheme was meticulously planned, as they even allowed the victim to see a profit of Rs 11 crore on the portal by the end of September. However, when he attempted to withdraw his funds, the scammers demanded an additional Rs 3 crore as capital gains tax, raising his suspicions.

The Telangana Cyber Security Bureau (TGSCB) is now on the case, registering a complaint under the IT Act and relevant sections of the Bharatiya Nyaya Sanhita. The bureau is analyzing the transactions and coordinating with banks and police across multiple states to trace the fraudsters. This incident serves as a stark reminder of the importance of vigilance in online interactions, especially when dealing with financial matters. As the investigation unfolds, it underscores the ongoing battle against cybercrime and the need for robust cybersecurity measures.

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