HYDERABAD: A 67-year-old retired software employee was duped for Rs 3 crore by fraudsters posing as representatives of a well-known Delhi-based stock trading firm.In his complaint to the Telangana Cyber Security Bureau (TGCSB), the victim from Lalaguda alleged that in mid-April he was added to a WhatsApp group administered by a fraudster posing as Anu Prita Daga, who claimed to represent the CEO of a Delhi-based stock brokerage firm. The group, with 60 members, persuaded investors to open Over-The-Counter (OTC) trading accounts on their web platforms such as smc52.xyz and smcace.top, assuring them that all transactions were reported to SEBI and RBI.Trusting the claims, the victim transferred money from his bank accounts to various bank accounts of technology, textile, and construction companies provided by the fraudsters in 36 transactions between May 30 and June 19.Later, the fraudsters announced that they were underwriting the initial public offer of a health tech firm and, through their manipulated portal, allotted shares worth Rs 49 crore in the victim’s name and started pressuring him to make payment. The victim became suspicious as the total value of the IPO was Rs 55 crore. “I asked, how can they allot Rs 49 crore value of shares to a single retail investor and around 300 crores to other group members when the total IPO value was itself Rs 55 crore,” the complainant said. When he questioned the allotment, the accused threatened penalties for a negative balance and froze his account.The victim then directly contacted the health tech firm which issued the IPO and also SEBI to verify the documents sent by the fraudsters and realised that he was duped. Based on his complaint, TGCSB Headquarters police in Hyderabad registered a case under section 66-D of the IT Act and Sections 318(4) (cheating and dishonestly inducing delivery of property), 319(2) (cheating by personation), and 338 (Forgery of valuable security, will, etc.) of the Bharatiya Nyaya Sanhita (BNS) on Saturday.“The defrauded amount was transferred to multiple accounts and withdrawn. We are analysing the bank transactions to identify the accused,” said a police official.
