A technical officer from Khammam, currently posted in the Indian Army in Jammu and Kashmir, has fallen victim to an elaborate cyber fraud, losing Rs 55 lakh to scammers posing as stock market investment advisors. The officer lodged a complaint on Thursday, revealing a months-long deception that began with a WhatsApp message in January.
According to police reports, the officer was contacted by unknown individuals who promised high returns on investments in initial public offerings (IPOs). Although he initially ignored the messages, he eventually responded in February seeking more information. He was then added to a WhatsApp group named “BVIP29 BN Rathi Internal Group”.
Searching online, he found a legitimate company, BN Rathi Securities Ltd., listed as being based in Hyderabad. After calling the contact numbers available online and receiving confirmation of the firm’s existence, he was convinced of its authenticity and proceeded to engage with the group.
The group administrator, identified as Hersh Tolani, provided investment advice and asked the officer to download a trading application. The officer began using the app on March 10 and made several investments based on Tolani’s instructions.
On May 5, Tolani requested a final transfer of Rs 3.8 lakh. When the officer suggested debiting it directly from his supposed BN Rathi account and was met with repeated requests for manual transfer, he grew suspicious. Contacting the actual company again, he was informed that BN Rathi Securities had no connection to any WhatsApp investment groups and that scammers were misusing their name.
Realising he had been defrauded, the officer reported the incident. A case has been registered by the Telangana Cyber Security Bureau (TGCSB) and the Cyber Crime Police Station (CCPS) of Khammam under Sections 61(2) and 318(4) of the Bharatiya Nyay Sanhita (BNS) and Section 66D of the Information Technology Act.
Authorities have urged the public to remain cautious and verify the authenticity of any investment offers, especially those received via social media or messaging platforms.
