Ex-IPS officer’s wife duped of Rs 2.58 crore in Hyderabad

Hyderabad police are investigating a major online fraud case in which the wife of a former IPS officer was allegedly cheated of Rs 2.58 crore by cybercriminals posing as stock market investment advisors.

According to the complaint, the woman was contacted by unknown individuals through WhatsApp, who sent her advertisements promoting high-return stock market investments via an online trading application. Trusting the claims, she transferred a total of Rs 2.58 crore to the fraudsters over a span of ten days, believing the money was being invested.

The victim realised she had been duped after she failed to receive any returns or access her funds. She subsequently approached the police and lodged a formal complaint.

Based on her statement, local cybercrime officials have registered a case and launched an investigation to trace the accused and recover the money.

In a separate incident highlighting the growing menace of cyber fraud, a 68-year-old Hyderabad resident was cheated of Rs 26 lakh last year by criminals impersonating officials from the ATS, NIA and even the DGP. The fraudsters used fake documents, forged arrest warrants and video calls to intimidate the victim by falsely accusing him of involvement in terrorism and money laundering.

Police have urged citizens to remain cautious and verify investment opportunities before transferring money online.