In a shocking case of digital deception, a 45-year-old woman from Kothaguda in Hyderabad has been defrauded of more than ₹2.3 crore by individuals posing as stock market investment advisers. The Cyberabad cybercrime police have officially registered a case based on her detailed complaint, marking another alarming instance of sophisticated financial fraud in the city.
The Elaborate Scam Unfolds
According to the victim's complaint, the unfortunate sequence of events began on November 28, 2025, when she encountered an advertisement on a social media platform promising lucrative stock market investment tips. Intrigued by the prospect of financial gains, she clicked on the advertisement, which subsequently led to her being added to a WhatsApp group named CAPSTONE IN (A14 Indian books discussion group).
The group was presented as an exclusive training forum operated by individuals claiming to be Professor Prem Prakash Varma and his associate, Anli. These fraudsters meticulously built trust with the victim over time, displaying apparent expertise and credibility through their interactions.
Building False Confidence
After establishing initial rapport, the duo instructed the victim to download the Capstone IN application through a provided web link and open what they described as an institutional trading account on the platform. To reinforce their legitimacy, they shared convincing screenshots showing substantial profits and seamless withdrawal processes, creating an illusion of a legitimate investment opportunity.
Convinced by these demonstrations, the complainant proceeded to transfer funds between December 23, 2025, and January 19, 2026. She executed 17 separate transactions totaling over ₹2.3 crore, directing the money to 11 different bank accounts provided by the fraudsters.
The Illusion of Massive Returns
The Capstone IN application interface displayed her account balance as an astonishing ₹14.7 crore, supposedly generated through simulated gains in upper-circuit stocks and initial public offerings (IPOs). This fabricated wealth representation further solidified her belief in the scheme's authenticity.
The Final Betrayal
The turning point came when the victim attempted to withdraw her investment. At this critical juncture, the fraudsters introduced a new requirement: payment of an additional 15% advance tax before any withdrawal could be processed. Trusting their instructions, she paid an extra ₹15 lakh, bringing her total investment to the staggering ₹2.3 crore figure.
Following this final payment, all communication abruptly ceased. The previously active WhatsApp group became completely inactive, and the fraudsters disappeared without a trace, leaving the victim to realize she had been systematically deceived.
Legal Action Initiated
Upon recognizing the fraud, the victim filed a formal complaint with the Cyberabad police on Wednesday. The authorities have registered a comprehensive case under multiple legal provisions:
- Sections 318(4) (cheating) of the Bharatiya Nyay Sanhita
- Section 319(2) (cheating by personation)
- Section 336(3) (forgery for purpose of cheating)
- Section 338 (forgery of valuable security, will, etc.)
- Section 340(2) (using as genuine a forged document or electronic record)
The case also invokes section 3(5) (common intention) of the Bharatiya Nyay Sanhita along with section 66-D of the Information Technology Act, highlighting the digital nature of the crime.
A Growing Concern
This incident underscores the increasing sophistication of financial frauds targeting Indian investors, particularly through social media platforms and messaging applications. The elaborate nature of this scam—complete with fake applications, fabricated returns, and professional impersonation—demonstrates how fraudsters are evolving their methods to exploit unsuspecting individuals.
Cybercrime authorities continue to warn citizens about such sophisticated investment schemes that promise unrealistic returns while operating through unofficial channels and applications.
