Hyderabad, Feb. 25 -- A businessman recently lost Rs 28.63 lakh in a cyber fraud in Hyderabad on the pretext of investment in stocks.

The 44-year-old man, a resident of Malkajgiri, joined a group that claimed to teach stock investing. A link was provided in the group, and based on the fraudsters' instructions, the victim installed an application.

Initially, the victim invested Rs 50,000 and then increased his investment to Rs. 9.4 lakh. When he tried to withdraw his money, he was asked to bring more funds into his account. Eventually, the businessman realised that he was duped and filed a complaint with the Rachakonda cybercrime police.

Published by HT Digital Content Services with permission from Siasat Daily....