Hyderabad man scammed out of ₹27L in fake trading app scheme
A 38-year-old from Hyderabad lost ₹27.05 lakh after being lured into an online trading scam.
Fraudsters reached out through a fake Facebook page, added him to a WhatsApp group pretending to be investment advisors, and convinced him to use a bogus app called ADVPMA by flaunting screenshots of fake profits.
How the scam worked & what's happening now
He started with just ₹10,000, but kept transferring more as his "profits" seemed to grow—until his total investment hit ₹27 lakh.
When he tried to withdraw, scammers blocked access and demanded another ₹50 lakh, citing various charges.
Police have registered a case and are investigating.
Authorities are reminding everyone: always check if trading platforms are SEBI-verified before investing, and report suspicious activity at 1930 or cybercrime.gov.in.