A 40-year-old insurance agent from Uppal lost Rs 72 lakh after joining a fake stock trading group on WhatsApp. Fraudsters posing as representatives of Russell Investments lured him with false profits before demanding extra money under the guise of taxes.

Hyderabad: A 40-year-old insurance agent from Uppal fell prey to cyber fraudsters and lost Rs 72 lakh after joining a fake stock trading group on WhatsApp promising high returns.

According to the police, the victim was added to a WhatsApp group named “Stocks VIP Exchange Group E8”, where members promoted lucrative stock investment opportunities. Convinced by their claims, he joined the group and interacted with its admins, identified as Karim Varma and Kristen, who claimed to represent Russell Investments.

Initially, the victim investe

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