Hyderabad, May 31 -- A retired government employee was duped of Rs 61.95 lakh in a trading scam in Hyderabad on Friday. May 30.

Following the incident, the man approached the cybercrime unit of the Hyderabad police and filed a complaint. The complainant stated that the trouble began on March 27 when he made an initial investment of Rs 21,000 on a trading platform.

After a while, a scammer posing as a trading advisor began coaching him on international stock markets and persistently pushed him to invest larger amounts, citing margin requirements and the risk of fund losses.

Despite his repeated pleas to exit the scheme and requests to withdraw his funds, the scammer refused and manipulated him into investing more with promises of doubli...