Hyderabad: A 50-year-old private employee from Bowrampet lost 1.13 crore to a stock trading scam run through a fake online platform. On his complaint, Cyberabad Cyber Crime police have registered a cheating case.The victim was contacted on Facebook messenger on June 2, 2025, by a woman calling herself to be Sruthi Spandana, who later shifted communication to WhatsApp. Claiming past acquaintance, she convinced him to open an account on a fake stock trading site, m.ironfxvip.com, promising quick profits.Following her instructions, the victim initially deposited 50,000 into the bank accounts provided by Shruti. He became confident in the platform after being allowed to withdraw 6,120. Over the next few months, the victim transferred funds repeatedly towards investment. The fraudsters displayed fabricated profits on the fake platform and demanded successive charges to unlock withdrawals, including 15% conversion fees, a fee to unfreeze the account, and a VIP account fee. The victim ultimately ended up paying 1.13 crore.The fraud came to light when the victim’s bank alerted him that the initial 6,120 credit was flagged as suspicious. Confronted, the fraudster, Shruti, denied responsibility and sought another 5 lakh, after which she became incommunicado.On the victim’s complaint, a case was registered on Sunday under Sections 318(4) (cheating), 319(2) (cheating by personation), 336(3) (forgery for purpose of cheating), 338 (forgery of valuable security, will, etc), and 340(2) (using as genuine a forged document or electronic record), read with 3(5) of the Bharatiya Nyaya Sanhita and Section 66-D of the Information Technology Act.
