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Hyderabad: A 51-year-old private employee from Hyderabad’s KPHB was duped of Rs 1 crore in a forex trading scam in March 2026.
The incident came to light when the victim, a private employee approached the Cyberabad cybercrime unit. In his complaint, the victim stated that on March 9, he received a message on the Telegram app from a fraudster who identified himself as Ronald Browne.
Browne claimed to be a representative of a London based stock-trading firm and offered expertise on forex trading.
The complainant was persuaded by two women who identified themselves as Nisha and Harini to open trading accounts on the websites including ‘m.roewatson.com’ and ‘m.ftmohub.cc’ and invest money. They lured him by promising a daily income of 1,000 US Dollars.
According to the police, the victim was asked to deposit Indian currency into bank accounts shared via Telegram, with assurances that the money would be converted into US dollars for trading.
Based on the instructions of Nisha and Harini, between March 9 and April 20, the victim transferred over 1.08 crore. However, when he tried to withdraw the amount, the fraudsters demanded advance tax and conversion charges.
Suspecting foul play, the victim verified the authenticity of the platforms and discovered that they were fake.
Based on his complaint, Cyberabad cybercime unit registered a case under sections 318(4) (cheating), 319(2) (cheating by personation), 336(3) (forgery for purpose of cheating), 338 (forgery of valuable security, will, etc), 340(2) (using as genuine a forged document or electronic record), r/w 3(5) (common intention) of the BNS, 66-D of the IT Act
This post was last modified on May 2, 2026 12:02 pm