A 48-year-old lineman employed with the Telangana State Northern Power Distribution Company (TGNPDCL) in Ramagundam has fallen victim to a sophisticated cyber fraud, losing a staggering ₹94.11 lakh. The fraudsters posed as representatives of a well-known stock trading platform to deceive him.
How the Scam Unfolded
According to police, the victim filed a complaint on May 1, 2026, detailing the online trading fraud. While browsing Facebook, he encountered an advertisement for a trading app that promised high returns on investment. After clicking on the provided link, he was contacted via WhatsApp calls from multiple numbers. The callers convinced him to install a stock trading app through a link they sent and to invest money through the app, assuring daily profits.
"They opened an account in my name and persuaded me to invest larger sums for trading oil and gold stocks," the victim stated in his complaint.
Fake Profits and Additional Demands
The fraudsters displayed fake profits on the trading app to build trust. When the victim attempted to withdraw his funds, they demanded additional payments for taxes, commissions, and other charges. Believing their claims, the victim transferred money in multiple RTGS transactions between November 6, 2025, and March 23, 2026.
Realisation and Legal Action
After receiving no returns despite paying all the requested taxes and fees, the victim realized he had been defrauded and approached the Telangana Cyber Security Bureau (TGCSB). Based on his complaint, sleuths registered a case under Sections 318(4) (Cheating) of the BNS and Section 66-D of the IT Act. An investigation is underway.
Precautionary Advice
Authorities urge the public to exercise caution when encountering investment advertisements on social media. They advise verifying the legitimacy of trading platforms before making any investments and to be wary of unsolicited offers promising high returns.
