A PSU employee from Sanathnagar lost ₹2.22 crore to cyber fraudsters after being drawn into a fake online investment scheme that was promoted through advertisements on social media platforms. The Hyderabad cyber crimes police booked a case.

According to an officer from the wing, the victim came across Facebook advertisements promising attractive returns through investment opportunities. After he showed interest, fraudsters contacted him and persuaded him to join purported investment platforms. They also added him to multiple WhatsApp groups that appeared to be operated by financial consultants and stock market analysts.

The fraudsters gradually gained his confidence and convinced him to invest money in phases. Trusting the legitimacy of the scheme, the victim transferred a total of ₹2.22 crore to several bank accounts provided by the accused.

To maintain the deception, the scammers displayed a balance of nearly ₹3.1 crore on a fake investment application, leading the victim to believe that his investments had yielded substantial profits.

However, when he attempted to withdraw the amount, the fraudsters demanded further payments under the pretext of taxes, processing charges and other fees. Realising that he had been cheated, the victim approached the police, who registered a case and initiated an investigation.