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Key Points

Two Hyderabad residents have lost over Rs 50 lakh in sophisticated online investment scams. One victim was duped through fake US Gold Stocks trading by NFM Capital Markets agents. Another investor lost Rs 43 lakh to fraudulent AXIS Security platform offering IPO allotments. Cyber crime police warn about fake trading dashboards showing fabricated profits to lure victims.

Key Points: Hyderabad Trading Fraud Victims Lose Rs 50 Lakh Online

  • 57-year-old lost Rs 6.32 lakh to fake US Gold Stocks through NFM Capital Markets
  • 63-year-old investor lost Rs 43 lakh to fake AXIS Security platform
  • Fraudsters used fake dashboards showing fabricated profits and loans
  • Victims threatened with legal action when questioning withdrawal demands
2 min read

Two persons in Hyderabad lose over Rs 50 lakh in trading, investment fraud

Two Hyderabad residents lost over Rs 50 lakh in separate online investment scams involving fake trading dashboards and fraudulent platforms like NFM Capital Markets.

"Fraudsters create fake trading websites, apps, and dashboards showing false profits to build confidence - Police Commissioner V.C. Sajjanar"

Hyderabad, Oct 5

Two victims of trading and online investment frauds lost more than Rs 50 lakh in two separate cases in Hyderabad, police said on Sunday.

In online gold stocks trading fraud, a person was cheated to the tune of Rs 6.32 lakh while another citizen lost Rs 43 lakh in online investment fraud.

A 57-year-old resident of Himayathnagar was cheated by an online trading platform called NFM Capital Markets through an agent named Amrutha Reddy, who first contacted the victim via Facebook and WhatsApp.

She convinced him to invest in 'US Gold Stocks' using a fake trading dashboard showing fabricated profits.

The victim made transactions totaling Rs 6,32,000 through Google Pay and SBI YONO, believing the fake wallet balance of $38,694.94 was genuine.

Later, the fraudsters demanded more money for 'taxes' and 'withdrawal charges' and even threatened legal action.

When asked to pay an additional Rs 8 lakh, the victim realised it was a scam and promptly reported the matter through 1930 Cyber Helpline, enabling partial fund recovery.

In another case, a 63-year-old investor received a WhatsApp message from "AXIS Security", which appeared to be associated with Axis Bank, offering IPO allotments and trading opportunities.

Believing it to be genuine, he invested more than Rs 43,00,000 between July 12 and early August 2025.

The fraudsters regularly showed fake dashboards displaying profits and discounted share allotments, claiming the trades were under Qualified Institutional Placement (QIP) quota.

They allotted more shares than his balance allowed, labelling the difference as a 'non-interest loan', and demanded repayment with threats to freeze his account.

Upon realising that AXIS Security was fake, the victim filed a complaint.

The Cyber Crime Police, which registered the case, has cautioned people to remain vigilant against fake online investment and trading platforms that are actively deceiving citizens through WhatsApp, Telegram, Facebook, Instagram, and X.

Fraudsters create fake trading websites, apps, and dashboards showing false profits to build confidence and lure victims into depositing larger amounts.

They later block withdrawals under excuses such as 'tax payments', 'compliance verification', or 'conversion charges'.

Once substantial sums are collected, they either disappear or threaten the victims with fake legal action, Police Commissioner V.C. Sajjanar said.

- IANS

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Reader Comments

P
Priya S
Why are people still trusting random WhatsApp messages for investments? The first victim is 57 years old - we need to educate our elders about these digital scams. They're not as tech-savvy as younger generations.
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Arjun K
Good that at least partial funds were recovered in one case through the cyber helpline. More awareness about 1930 helpline is needed. People should immediately report instead of paying more money to these thugs.
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Sarah B
As someone working in finance, I must say the police advisory is spot on. Never invest through platforms that aren't SEBI registered. The "non-interest loan" tactic mentioned here is particularly clever and dangerous. Stay safe everyone!
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Vikram M
Rs 43 lakh is someone's life savings! These scams are destroying families. The government needs to take stronger action against these fraudsters operating from foreign locations. Our cyber crime cells are doing good work but need more resources.
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Michael C
While I sympathize with the victims, I must respectfully point out that people should do basic due diligence. No legitimate investment platform contacts you first via WhatsApp or Facebook. If returns seem too good to be true, they probably are.
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Ananya R
My heart goes out to these victims. The psychological manipulation

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