Trading app scam: Nallakunta retiree loses Rs 29.5 lakh to fake investment advisor
Following the instructions, the victim transferred huge funds from his SBI account and his wife’s account for alleged trading
By - Newsmeter Network
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Hyderabad: A 63-year-old retired employee from Nallakunta lost Rs 29.5 lakh to a fake trading app whose scammers were impersonating an investment company.
What is the case about?
According to the police, in early November, a woman named Divya Mehra, claiming to represent ‘India Nivesh Shares & Securities Ltd’, added the victim to a WhatsApp group called ‘163 Gate Way to the Future.’
She made him share bank and PAN details and install the fake NivPro trading app to invest in shares, OTC trades and IPOs.
Following her instructions, the victim transferred huge funds from his SBI account and his wife’s account for alleged trading.
Divya Mehra manipulated him by showing fake high profits and pressured him to invest larger amounts, including forcing him to buy an IPO of Excelsoft Technologies. When he refused, the scammers blocked his NivPro trading account and demanded a penalty of Rs 5 lakh to ‘unfreeze’ it, despite the app showing a balance of Rs 64 lakh.
The victim suffered a total loss of Rs 29.5 lakh. A case has been registered.
Public advisory regarding fraudulent trading apps and fake investment advisors
1. Do not join unsolicited WhatsApp or Telegram trading groups claiming high returns in shares, OTC trades or IPOs.
2. Before investing, always verify the investment platform, company and advisor on the official SEBI website.
3. Never share bank details, PAN or personal documents with unknown persons posing as investment advisors.
4. Avoid installing unverified trading apps sent by unknown individuals—fraudsters often create fake platforms to show manipulated profits.
5. Do not transfer money to bank accounts provided by self-proclaimed agents of investment companies.
6. Be cautious of advisors who pressure you to invest large amounts or force you to buy specific shares, OTC deals or IPOs.
7. Scammers commonly display fake profit screenshots or fake group messages to mislead and trap victims.
8. If a trading app blocks withdrawals or demands penalties/fees to release your funds, it is a clear sign of fraud.
9. Immediately stop payments and communication if you notice suspicious activity.
10. Report cyber frauds immediately on the 1930 helpline or www.cybercrime.gov.in
11. In case of any emergency of cyber fraud, please call or WhatsApp 8712665171.
12. Follow these links for the latest cyber awareness updates.
