Hyderabad surgeon loses Rs 2.3 crore in fake trading scam

A 49-year-old surgeon in Hyderabad has lost approximately Rs 2.3 crore to a fraudulent online trading scheme. The victim, a private hospital employee residing in Bandlaguda Jagir, was reportedly targeted through a WhatsApp group named ‘Grow Invest Tech Pvt Ltd. j9’ starting in July 2025.

The scam involved individuals posing as market analysts and customer support representatives. The group promised access to high-level stock market opportunities, including IPO allocations, block trades, and institutional investments. To participate, the surgeon was persuaded to open a Qualified Institutional Buyer (QIB) account on a web-based platform and transfer funds to various bank accounts provided by the scammers.

To build trust, the group shared fabricated screenshots of significant profits and successful withdrawals. While the victim was initially permitted to withdraw Rs 50,000, his subsequent attempts to withdraw larger sums were rejected or delayed. Upon realizing the displayed profits were fictitious, the surgeon filed a complaint with the Cyberabad Cyber Crime police, who have registered a case and launched an investigation.