Techie loses over Rs 3 crore in stock investment fraud

Hyderabad: A 47-year-old software engineer from Tellapur has lost Rs 3.26 crore to cyber fraudsters who lured him into investing through a fake stock trading application. Based on the complaint filed by the victim, Telangana cyber security bureau (TGCSB) registered a case on Monday and launched a probe.According to the complainant, he received a WhatsApp message from an unknown number containing a link to join an online stock trading tips WhatsApp group on Oct 31, 2025. By clicking the link, he joined a group titled ‘Stocko Traders Hub A663.’ The administrators, Swati Verma and Rakesh Kumar Jain, promoted stock market trading tips and IPO investment opportunities with promises of assured profits.The accused regularly shared screenshots of profits and withdrawals to lure the victims into investing through their app. After a few weeks of interaction, the victim was asked to download the “STOKOHNI” application through a link and create an account. Believing the platform to be legitimate, the victim started transferring money to different bank accounts provided by the fraudsters.Between Dec 2025 and Jan 2026, the complainant deposited over Rs 3.36 crore, and in between, he was allowed to withdraw Rs 10 lakh. “When I tried to withdraw more funds, the fraudsters blocked the requests and demanded additional payments as service charges. I refused to pay. In total, I suffered a loss of over Rs 3.26 crore,” the victim told police.By mid-March, the application became inaccessible, and all communication with the fraudsters stopped. And after waiting for a response from the fraudsters for about two months, the victim finally approached the police on Monday. TGCSB police registered a case under Section 66-D of the IT Act and relevant provisions of the Bharatiya Nyaya Sanhita.