A 45-year-old IT professional from Tellapur in Hyderabad has suffered a massive financial loss. He lost more than ₹2.9 crore to fraudsters operating a sophisticated online stock market investment and IPO allotment racket. Cyberabad cybercrime police confirmed the incident and registered a case on Friday.
How the Scam Began
The victim, a resident of Gopanapally, was researching the stock market online on November 12, 2025. A pop-up advertisement redirected him to a WhatsApp group. A man named Anil Goel introduced himself as a stock market investment advisor and managed the group.
The group shared charts showing stock market patterns. It also provided low-value trading tips that mirrored live stock prices. The victim tested these tips using his own demat account. He found them successful, which quickly built his trust in the operation.
The Elaborate Trap
The fraudster posing as Anil Goel later created an entity called the Alpha Alliance Investment Club. He claimed this club consisted of high-net-worth investors. To join a special seven-week training camp, members needed to open a foreign institutional investor account.
This account had to be created on a platform named GTS-C Securities. A woman pretending to be Ommie Salma shared web links for installing the associated mobile application.
The Initial Investment and False Promises
The victim made his first deposit of ₹50,000 on December 15. After this, the app started showing daily gains between 5% and 8%. The fraudsters then promised him returns of 300% if he upgraded to higher membership tiers.
These tiers were called Whale and Chief Discipline. They required investments exceeding ₹30 lakh and ₹1 crore respectively. Other group members shared screenshots showing massive profits. Convinced by these images, the victim decided to invest more money.
The Massive Financial Loss
From December 15 until January 8, the victim transferred over ₹2.9 crore. He completed 44 separate transactions to bank accounts and UPI IDs provided by the fraudsters. In a shocking revelation, the victim stated, "I only got back ₹5,415 from the fraudsters."
The fraudulent application displayed a total profit of ₹3.47 crore. However, when the victim tried to withdraw this amount, the fraudsters made another demand. They asked for an additional ₹2.5 crore to process the withdrawal.
The Realization and Police Complaint
This new demand made the victim realize he had been duped. He immediately approached the Cyberabad cybercrime police on January 16. The police have now registered a formal case based on his complaint.
Legal Action Initiated
The case has been registered under multiple sections of the Bharatiya Nyaya Sanhita (BNS). These include Section 318(4) for cheating, Section 319(2) for cheating by personation, Section 336(3) for forgery for the purpose of cheating, Section 338 for forgery of valuable security, and Section 340(2) for using a forged document as genuine.
Police have also invoked Section 66-D of the Information Technology Act. The investigation is currently ongoing as authorities work to track down the perpetrators behind this elaborate financial fraud.
