A Hyderabad based IT professional has fallen victim to a large online trading scam that began with a message from a man who introduced himself as Uttekar on WhatsApp. He claimed to be linked to Tradebulls Securities and invited the victim to a group named Wealth103Tradebulls Securities. The group showed screenshots of profits, IPO benefits, and messages from members thanking the group for big returns.
The victim first hesitated but soon began trading with small amounts. When he saw what appeared to be profits, his confidence increased. He then invested larger sums and was told he would receive guaranteed IPO allotments and high returns.
Over the next few months, he received fake profit statements and messages that created a false picture of success. The victim did not know that these messages were part of a planned attempt to cheat him.
The group started to push him to invest in special opportunities. When he questioned errors in the statements, the tone changed completely. The group members began threatening him, saying there would be tax problems and other legal issues. They claimed he had to pay commissions to get his money back.
Trying to recover his investments, the victim transferred a total of ₹1.5 crore to different bank accounts. The fraudsters called these payments IPO processing or trading advances. After they received the money, the group disappeared. The WhatsApp numbers stopped working and the Telegram group was deleted.
Police say this scam used fake identities, psychological pressure, and well planned digital communication. Early investigation shows that the money was transferred through several bank accounts used by people who allow criminals to use their accounts for commissions.
Officials said these scams are now operated by organised groups. They look like real trading support teams and use fast messages, fake dashboards, and emotional manipulation to trap people.
Investigators note that such online trading groups are rising in India. Many victims fall for claims of easy earnings through stock trading or IPO investments.
Experts warn that investors should always check if advisors are registered with SEBI. They must avoid sending money to personal accounts and should use strong security options for digital transactions.
The Hyderabad victim told police that the loss was not only financial. He said, “It was not just my money. It was my trust that was stolen.”
His story shows that in today’s digital world, scammers do not arrive in person. They reach people through messages that appear friendly and promising.
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