Hyderabad CA loses Rs 2 crore in stock investment scam

A chartered accountant in Hyderabad was defrauded of Rs 2 crore in a stock investment scam. Fraudsters posing as trading experts used Telegram and email to lure the victim into using the Exness trading app. After demonstrating fake profits through initial small investments, the perpetrators convinced the victim to invest Rs 2.4 crore through 52 separate transactions. The victim, who had taken loans to fund the investments, discovered the fraud after the perpetrators ceased communication and the app was removed from the Google Play Store.

Separately, the Telangana Cyber Security Bureau (TGCSB) reported that stock trading and business investment frauds account for approximately 60 per cent of financial losses from cybercrime in the state. During a recent awareness campaign, TGCSB officials noted that while cybercrime complaints rose by 24 per cent across India in 2025, Telangana saw a 3 per cent decline. Furthermore, financial losses in Telangana fell by 20.2 per cent, and complaints decreased by 10.2 per cent during the first half of 2026.