Hyderabad: A 60-year-old retired bank employee from Malakpet fell victim to a sophisticated online investment scam, losing Rs 51.23 lakh to fraudsters impersonating IIFL Capital through Facebook and WhatsApp. The victim was initially drawn in by a Facebook advertisement in early November 2025, which claimed lucrative pre-IPO investment opportunities. Contacted via WhatsApp by a fraudster identifying himself as Goshan Yadav from IIFL Capital, he was added to a group named “IIFL CS Pre-IPO 067.” The group displayed fake profit screenshots and share allotments to lure investors.

Encouraged by these fabricated gains, the victim initially invested Rs 8,000 but ultimately transferred a total of Rs 51.23 lakh by 25 November. The scammers displayed manipulated allotments of shares purportedly from Groww and Tennind, boasting a fake portfolio value of over Rs 1.3 crore on their fraudulent website. When the victim sought to withdraw funds, the fraudsters demanded an additional Rs 51.23 lakh to release the proceeds, a demand that immediately exposed the scam. Realising he had been duped, the victim reported the incident to the authorities.

Authorities are urging the public to exercise caution with online investment offers, especially those received via social media or unofficial platforms. Key warnings include verifying financial services through official company channels, avoiding investments via personal WhatsApp contacts, and steering clear of unknown links or apps.