A 63-year-old man in Hyderabad lost Rs 43 lakh after fraudsters tricked him with fake IPO allotments and trading profits via WhatsApp. They used fake dashboards and threats to extract money. A police case has been registered and investigation is ongoing

Hyderabad: A 63-year-old man was duped of Rs 43 lakh on the pretext of online share trading in the city.

According to the police, the victim received a WhatsApp message from a person who claimed to be associated with a private financial institution and offered IPO allotments and trading opportunities.

“The fraudsters regularly showed fake dashboards displaying profits and discounted share allotments, claiming the trades were under a Qualified Institutional Placement to the victim. To convince him to part with money, they allotted more s

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