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The complainant took a personal loan to invest.
Hyderabad ‘ March 20 (PMI) A major online investment fraud has come to light in Hyderabad, where three individuals were duped of more than ₹30 lakh through fraudulent schemes operated on WhatsApp and Telegram.
According to the Cyberabad Cybercrime Police, the incident began in April 2025 when a 39-year-old man received an investment link via Telegram. The link led to a platform that claimed to be associated with a sandpaper company and promised high returns, secure investments, and foreign trips as incentives. The operations were conducted through a Telegram channel named “Pluto Project.”
Trusting the claims, the victim, Sridhar, invested ₹4.91 lakh in two phases on April 30 and May 5, 2025. His wife also invested ₹17.2 lakh on May 5, while a friend contributed ₹8.36 lakh on April 29. Altogether, the trio invested ₹30.47 lakh. Police said the complainant had even taken a personal loan to invest in the scheme.
The accused in the case have been identified as Sulalit Bishwas and Arpan from Kolkata, Basavaraj Hirole and Sikandar from Karnataka, and Venkata Bhupati Raju, along with Venkata Narasimha Rao Meda from Andhra Pradesh and Telangana. All six are believed to be promoters of the fraudulent investment platform.
Within two months of collecting the money, the accused stopped responding to calls and messages. The victims were unable to withdraw their funds, and the Telegram channel was later deactivated, raising suspicions of fraud.
After realising they had been cheated, the complainant approached the Cyberabad Cybercrime Police on March 18, 2026, submitting bank transaction details and chat records as evidence.
Based on the complaint, police have registered a case under multiple sections of the Bharatiya Nyaya Sanhita, including cheating, impersonation, and forgery, along with Section 66-D of the Information Technology Act. An investigation is currently underway to trace and apprehend the accused. (pressmediaofindia.com)
