Hyderabad: A 69-year-old businessman was allegedly duped of Rs 2.65 crore in a cyber fraud in Hyderabad after fraudsters lured him with high returns on investments in online companies which turned out to be fake.
The victim, who is a resident of Somajiguda, approached the cybercrime unit of the Hyderabad police. In his complaint, the businessman alleged that he was contacted by a woman who identified herself as Ramya Krishnan via social media.
After an initial conversation, Krishnan allegedly told the victim that she was making investments in Polyus Finance (PFP Gold)’ and had invested Rs 50 lakh so far. She also told him that she was receiving good returns.
Fraudster seeks investments in resorts
The businessman also stated that the woman asked him to invest in her future projects related to resorts and the apparel business in Kerala and Hyderabad. Trusting her, he started transferring funds to the bank accounts provided by the woman. Later, the fraudster also asked the victim to withdraw Rs 50 to gain his trust.
Once he received the initial return, the victim began to invest large amounts of money, hoping for better returns. Over time, the businessman transferred Rs 2.65 crore to the bank accounts provided by the fraudster.
When the businessman tried contacting Krishnan, her phone was switched off. He was later contacted by another fraudster who asked him to pay more money as a fee to withdraw the profits.
After he realised that he was cheated, the businessman approached the cyber crime unit, based on his complaint, a case was registered, and the investigation is underway.
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