Hyderabad: A 75-year-old retired govt employee from Nagole lost 90 lakh to fraudsters operating an online stock trading racket. On his complaint, Malkajgiri cyber crime police registered a case and launched a probe on Wednesday.Police said a former employee of the Telangana Southern Power Distribution Company (TGSPDCL) joined a WhatsApp group named A9 Wealth Alliance Training Team in early January 2026 after receiving messages promising extraordinary returns on initial public offerings (IPOs). “The group’s 86 members repeatedly posted screenshots of hefty profits to build credibility,” the victim told police.The administrator of the WhatsApp group, Mohan Patil, using a US phone number, told the victim to download a trading app called “Totem-Pm” from a link provided by them and register. Following detailed instructions, the senior citizen deposited 5 lakh and watched the dashboard show instant gains. He was then persuaded to transfer 85 lakh to different bank accounts towards subscription of IPOs.Trouble began when the victim attempted to withdraw his supposed profits. The administrator of the platform claimed an additional fee of 64 lakh was required and froze his account when he declined.Realising he was duped, the septuagenarian approached Malkajgiri cyber crime police on February 11. Based on his petition, a case was registered under Sections 316(2), 318(4), 319(2) and 338 of the BNS and Sections 66C and 66D of the IT Act. MSID:: 128261997 413 |
