Visakhapatnam: Four individuals from Visakhapatnam lost a combined total of ₹2.14 crore in separate incidents after fraudsters lured them into investing in online gaming and betting platforms, police reported.
First Case: Engineer Loses ₹1.56 Crore
A 30-year-old engineer from the city received a WhatsApp message from an unknown number, with the sender posing as a representative of online betting platforms Beta777 and SAT Sports. The complainant alleged that the accused offered a 10% to 15% bonus on deposits made on these platforms.
According to police, the complainant was under financial strain and was tempted by the offer, hoping to create an additional income stream. The fraudster created a user ID in the victim's name after he deposited some amount and sent him a link to a page that displayed his 'investment' and 'bonus' earned.
The fraudster also introduced the complainant to multiple websites, including Gold9.com, On777bet.com, Reddy369.com, and others, to invest. Initially, the returns appeared promising, leading the engineer to believe they were genuine. He was encouraged to make larger deposits with promises of huge bonuses.
Expecting good returns, the complainant borrowed money from friends and relatives and invested in one of the platforms, unaware that he was only sinking further into debt. Initially, the fraudster kept calling and offering incentives. However, when the victim tried to withdraw large amounts, he could not. The fraudster stopped taking his calls.
The victim lost over ₹1.56 crore and faced harassment from loan agents and friends over repayment. Unable to repay the debts and with his financial situation worsening, he finally lodged a complaint with the cybercrime police station in Vizag city.
Second Case: Three Victims Lose ₹58 Lakh
In another incident, three people from the city were lured by promises of high and quick returns and lost over ₹58 lakh after investing in an online gaming platform. Initially, they received some returns, but were later ghosted after investing more.
Police Advisory and Investigation
The cybercrime police have issued a public advisory following a sharp increase in online investment frauds, wherein citizens have been duped by scammers posing as financial advisors on social media platforms such as Telegram and WhatsApp. The police have registered cases in both incidents, and investigation is underway.
