In a shocking case of digital deception, the Cybercrime Police of Hyderabad have registered two separate cases after two brothers alleged they were swindled out of a staggering sum exceeding Rs 1.08 crore in an elaborate stock market investment fraud.
The WhatsApp Trap: "Moving Forward" to Nowhere
The victims, both siblings in their 40s, were ensnared in the scam between September and November 2025. They were added to a WhatsApp group named "Moving Forward", which was purportedly managed by individuals identified as V Ramaswamy and manager Meera Joshi. The group presented itself as a portal to exclusive, high-yield investment opportunities.
Members of this group were aggressively encouraged to open trading accounts on a platform called the "EdelHNW+" application. Links to download and use this app were shared within the group. The modus operandi involved urgent instructions to transfer funds to a series of specified bank accounts, often demanding payments within minutes of each request.
The Illusion of Wealth and The Cruel Twist
Believing they were participating in a legitimate high-net-worth investment scheme, the brothers began pouring money in. Srikanth transferred a massive Rs 73 lakh between October 26 and November 26. His brother, Sarath Chandra, deposited Rs 35.2 lakh between November 10 and 24.
The fraudsters expertly built trust by offering tantalizing baits like oversized IPO allotments. To further the illusion, they even sanctioned a fictitious "margin loan" of Rs 28 lakh to one of the victims. However, the trap snapped shut when the brothers tried to withdraw their funds. The accused blocked all withdrawals, insisting the non-existent loan had to be repaid first.
The Harsh Realization and Police Action
When their repeated pleas to access their money failed, the brothers made a grim discovery. They noticed that other so-called 'investors' in the WhatsApp group had been quietly removed from the chat. This was the moment they realized they had been conned in a meticulously planned scheme.
Approaching the authorities, the siblings filed formal complaints. Based on their accounts, the Hyderabad Cybercrime police have registered two separate First Information Reports (FIRs). The cases have been filed under the relevant sections of the Information Technology (IT) Act and the Bharatiya Nyaya Sanhita (BNS), launching a formal investigation into the sophisticated scam.
This incident serves as a severe warning for investors seeking quick riches online. It underscores the critical need for extreme caution when approached with unsolicited investment advice, especially on messaging platforms like WhatsApp, and to only use SEBI-registered platforms for market activities.
