Hyderabad resident cheated of ₹15.95 lakh in IPO investment fraud

A 49-year-old resident of Meerpet was cheated of about ₹15.95 lakh in an online investment fraud after being lured through a WhatsApp group promising high returns from block trading and IPO subscriptions.

The fraudsters approached the victim through a WhatsApp message on November 15, 2025, claiming to offer investment opportunities linked to block trading and IPO subscriptions that could generate high profits. The victim was subsequently added to a WhatsApp group where the administrators encouraged members to open an account through a link titled “Axis Security Advanced Training”.

According to the complaint, members of the group regularly shared screenshots claiming successful IPO allotments and profits, which convinced the victim to start investing. The victim initially transferred ₹5,000 and later continued investing through the website, eventually transferring a total of about ₹15 lakh.

The fraudsters allegedly displayed transaction histories on the platform and claimed that the operations were conducted under guidelines of the Securities and Exchange Board of India (SEBI), even sharing purported registration details and trading codes to gain the victim’s trust. At one stage, ₹1.20 lakh was returned to the victim, and the online account later showed a profit balance of ₹65.40 lakh.

When the victim attempted to withdraw the amount, the fraudsters demanded a commission of ₹2 lakh to process the withdrawal. The withdrawal was not allowed despite repeated attempts, and the victim realised that the investment portal and transactions were fraudulent.

Cybercrime police said the complainant suffered a total loss of about ₹15.95 lakh. Further investigation is underway.