Man duped of Rs 2.50 lakh in QNet investment fraud in Hyderabad

Hyderabad: A 25-year-old private employee from Alwal has approached Malkajgiri cybercrime police, alleging that he was cheated of over Rs 2.5 lakh by fraudsters operating an investment app in the name of ‘QNet'.The complainant from Alwal told police he lost over Rs 2.5 lakh after being lured into an investment racket operated through WhatsApp. According to the victim, an unknown offender posing as Manami Sandel sent a WhatsApp message to him on Jan 3. The fraudster offered guaranteed high returns and added him to a WhatsApp group titled ‘Dinesh's108'.On the advice of the administrators of the group, the victim downloaded the QNet app for an online products trading opportunity. "After registration, they contacted me personally and encouraged me to invest money through the application, assuring high and guaranteed returns with minimal risk. They explained that various products would be available on the app, and if others purchase them through my ID, I will receive commission on those sales. To make the scheme appear genuine, they conducted Zoom meetings and provided training for 21 days," the victim said.The fraudsters demanded an investment of Rs 5 lakh through the app for booking a position to buy and sell products. When the victim could not arrange the full amount, they accepted Rs 2.5 lakh and subsequently forced him to recruit more investors. The victim sensed that the scheme was a fraud and approached the Malkajgiri cybercrime police on Monday.A case was registered under Sections 316(2) (criminal conspiracy), 319(2) (cheating by personation), 318(4) (cheating) and 338 (forgery of valuable security, will, etc) of the BNS and Sections 66C and 66D of the IT Act against unknown accused.