The platform showed that his investments had grown to Rs 4.6 crore; however, when he tried to withdraw the money, the fraudsters demanded extra money.

Hyderabad: A 34-year-old doctor from Kothapet allegedly lost over Rs 1.5 crore in a trading fraud after being lured through social media groups promising high returns.

According to a report in The Times of India, the doctor had joined a Telegram group called CA Manish on May 4, which gave stock trading and investment tips. After some time, he was contacted on WhatsApp by several unknown numbers who claimed to be promoting an investment scheme operated by an international bank.

They added him to a WhatsApp investment group, created an account for him on a fake trading platform and persuaded him to invest in stocks and Initial Public Offerings (IPOs). Between May and June, the victim made 59 transactions to different bank accounts and transferred over Rs 1.5 crore.

The platform showed that his investments had grown to Rs 4.6 crore; however, when he tried to withdraw the money, the fraudsters demanded extra money, claiming that his credit score was low.

Realising he had been scammed, he approached the National Cyber Crime Reporting Portal. A case has been registered with Malkajgiri Cyber Crime Police.