Hyderabad bizman duped of Rs 73 lakh by cyber fraudsters

A businessman from Hyderabad has been defrauded to the tune of Rs 73 lakh by cyber fraudsters on the pretext of investment in crypto currency trade.

According to the police, the man, a resident of Kavadiguda, got a message on Telegram app to join a group. The man who joined the grouo began getting messages on investments in crypto currency.

Interested in it, he contacted the fraudsters who asked him to download an application from Google's Play Store and sent a link. The victim downloaded the application and created his account, and transferred around Rs.73 lakh to the bank accounts as directed by the conman over a period of 20 days.

After making initial investments, the conman told him his profits were around Rs.30 crore and lured him into investing more money. When the victim asked for profits, the fraudsters stopped responding to his messages. On realising of being cheated, he approached the police.