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Hyderabad: A retired Indian Police Service officer was duped of Rs 8.10 crore in an investment scam in Hyderabad.
Amar Singh Chahal, an Inspector General, fell prey to the investment scam after joining a WhatsApp group Chahal borrowed Rs 7.5 crore from his friends and relatives. Overwhelmed by the financial and emotional distress, Chahal died by suicide.
Cautioning the public against investment scams, the Hyderabad police said that there has been an alarming rise in online trading and Investment scams, where fraudsters lure victims through social media platforms. Telegram or WhatsApp groups promising high returns or guaranteed profits in cryptocurrency, forex, or stock trading.
These fraudsters often use fake websites, trading dashboards, or apps to show false profits and convince victims to invest more money.
Citizens are urged to avoid investing through unverified platforms, not to trust online profit promises.
Initially the fraud begins with an unsolicited message on platforms like Facebook, telegram or WhatsApp, often sent by someone posing as an investment advisor or trading agent. The agent builds rapport with the victim and introduces a so-called online trading opportunity, promising high and quick returns.
The fraudsters encourage victims to make small investments for trading. The agent provides support via WhatsApp to make it appear genuine. After the initial investment, the agent shows fake profits on a manipulated trading platform. The victims are made to believe these returns are real and withdrawable.
When the victim tries to withdraw funds, he is told to pay various “processing fees”, such as tax payments, currency conversion charges, withdrawal fees, compliance charges. Each time a payment is made, a new reason is invented to demand more money.
If the victim hesitates or questions the process, scammers use fear tactics like threatening legal action claiming the wallet or funds will be frozen or lost.
This post was last modified on December 23, 2025 2:20 pm