In yet another case of an online investment scam, a Hyderabad-based IT professional has lost a whopping Rs 1.5 crore. What began as a seemingly legitimate trading opportunity shared over WhatsApp turned into a well-coordinated fraud that promised fake returns, false IPO allotments, and intimidation tactics. The scammers created convincing WhatsApp trading groups, fabricated payment proofs, and claimed brokerage affiliations to win the victim’s trust.

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The scam began when the victim was contacted by an individual identifying himself as “Uttekar”, who claimed to be a trading advisor linked to a well-known brokerage. He was added to a WhatsApp group called “Wealth103Tradebulls Securities”, where participants flaunted impressive trading returns.

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