Hyderabad: In another incident of fake trading app scams, a 63-year-old retired employee from Nallakunta was duped of Rs 29.5 lakhs by scamsters impersonating as an investment company.
In early November, a person named Divya Mehra added the victim to a WhatsApp group called “India Nivesh Shares & Securities Ltd,” claiming to be a trading group.
She then persuaded him to share his bank and PAN details and install a fake trading app, NivPro, to invest in shares, OTC trades, and IPOs.
The victim then transferred large sums of money from his and his wife’s account for ‘trading.’
Divya Mehra deceived the victim by showing fake high profits and pressured him to invest more, even coercing him to purchase an IPO of Excelsoft Technologies.
When he resisted, the fraudsters blocked his NivPro trading account and demanded a Rs 5 lakh “penalty” to unfreeze it, even though the app showed a balance of Rs 64 lakh.
The cybercrime police have issued a public advisory regarding fraudulent trading apps and fake investment advisors.
