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WhatsApp trading group costs employee Rs 48 lakh
In Short
Police said the victim was added to a WhatsApp group by Aditi Verma regarding Upstox Securities, allegedly led by Prof Ravi Kumar.
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Hyderabad: A 40-year-old private employee from Qutbullahpur was duped of Rs 48 lakh by cybercriminals in a fake stock trading scam. Cyber Crime Police registered a case.
Police said the victim was added to a WhatsApp group by Aditi Verma regarding Upstox Securities, allegedly led by Prof Ravi Kumar. Verma introduced herself as the professor’s assistant and promised profits through block trading, upper-circuit stocks and IPO allotments. She asked him to download the “UP QIB” trading app and created login credentials for him.
The victim initially invested Rs 10,000 and made marginal profits before investing Rs 48 lakh in phases. When he tried to withdraw the profits, he was blocked and his password changed.
In a similar incident, a 54-year-old business consultant from Yellareddyguda lost Rs 5.40 lakh after cybercriminals posing as trading experts induced him to invest through the SmartWQ Quantitative/Crypto Trading app.
