Cyber fraud: Wife of ex-IPS officer duped of Rs 2.58 crore
Hyderabad: Cyber fraudsters duped the wife of a former IPS officer here of ₹2.58 crore by luring her with promises of high returns on stock market investments.
The woman stated in her police complaint that in November last year, she received an unsolicited invitation on an instant messaging app offering huge profits through stock market investments.
Because she lacked technical knowledge of online trading platforms, she asked her husband to join a group on her behalf, which he did on November 29th.
Soon after, a man identifying himself as Dinesh Singh began sending detailed messages to the group, leading to discussions and discussions.
His messages were highly scholarly and analytical, instilling strong confidence in the group members, including herself.
Dinesh Singh and his associates told group members that they should trade through a SEBI-registered entity in India and even posted copies of their SEBI registration certificates in the group.
Following these instructions, she opened a trading account in her husband’s name and using his credentials.
Following Dinesh Singh’s advice and his continued inducement, she deposited a significant amount of money, including a gold loan in her and her husband’s names, solely to participate in a so-called IPO.
During this time, her husband repeatedly warned her that she was being given different current account numbers from different banks almost daily, with accounts in West Bengal, Assam, Bhubaneswar, and Delhi, which was highly suspicious and inconsistent with proper brokerage practices, she said.
She found reports of similar investment frauds across India through her own internet search.
She said that despite the substantial investment, the group’s organizer insisted on depositing money in the name of subscription to another IPO.
On January 5, she withdrew ₹10 lakh, a sum deposited in six small transactions, further fueling her suspicions. To avoid alerting the fraudsters and preventing premature withdrawals, he maintained limited activity on the platform as a precautionary measure and attempted to withdraw funds until police intervened.
“A group of fraudsters, using multiple bank accounts and posing as a well-known company, defrauded me of ₹2.58 crore as per their well-planned scheme,” he said in his complaint, which was filed on January 6.
Cyber fraudsters defrauded the wife of a former IPS officer of ₹2.58 crore in an online investment scam.
