Hyderabad Senior Citizen Defrauded of ₹90 Lakh in Sophisticated Online Stock Trading Scam
In a distressing case of cyber fraud, a 75-year-old retired government employee from Nagole, Hyderabad, has lost a staggering ₹90 lakh to criminals operating an elaborate online stock trading racket. The Malkajgiri cyber crime police have registered a formal case and initiated a comprehensive investigation into the matter.
How the Elaborate Scam Unfolded
The victim, a former employee of the Telangana Southern Power Distribution Company (TGSPDCL), was targeted through a WhatsApp group named A9 Wealth Alliance Training Team in early January 2026. He had received messages promising extraordinary returns on initial public offerings (IPOs), which lured him into joining the group.
"The group's 86 members repeatedly posted screenshots of hefty profits to build credibility," the senior citizen explained in his police complaint. This constant display of apparent success created a false sense of security and trust.
The Deceptive Trading Platform
The administrator of the WhatsApp group, identified as Mohan Patil using a US phone number, instructed the victim to download a trading application called "Totem-Pm" from a provided link and complete registration. Following detailed guidance, the elderly man deposited an initial amount of ₹5 lakh and observed his dashboard showing instant, impressive gains.
Encouraged by these fabricated profits, he was then persuaded to transfer an additional ₹85 lakh to various bank accounts for the purported subscription of IPOs. The entire scheme was meticulously designed to appear legitimate at every step.
The Moment of Realization
The situation turned critical when the victim attempted to withdraw his supposed earnings. The platform administrator suddenly claimed that an additional fee of ₹64 lakh was required to process the withdrawal. When the senior citizen refused to pay this exorbitant amount, his account was immediately frozen.
Realizing he had been systematically duped, the septuagenarian approached the Malkajgiri cyber crime police on February 11 to file an official complaint.
Legal Action Initiated
Based on his detailed petition, authorities have registered a case under multiple sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act:
- Sections 316(2), 318(4), 319(2), and 338 of the BNS
- Sections 66C and 66D of the IT Act
The investigation aims to trace the digital footprints and financial transactions involved in this sophisticated fraud operation. Police officials have emphasized the growing threat of such investment scams targeting vulnerable individuals, particularly senior citizens.
