Hyderabad: Cyber fraudsters cheated 60-year-old retired bank employee from Malakpet of Rs 51.20 lakh in the name of fake Pre-IPO investment scheme.
According to officials , the victim came across a Facebook post in the name of IIFL Capital in November 2025. After clicking the link, he began receiving WhatsApp messages from a man identifying himself as Goshan Yadav from IIFL Capital, who promised high returns and assured assistance in IPO allotments.
He was added to a WhatsApp group titled “IIFL CS Pre-IPO 067”, where members posted fabricated screenshots of profits and IPO allotments to lure investors. “Convinced by these claims, the victim initially invested Rs 8,000 and gradually transferred a total of Rs 51.20 lakh by November 25,” Cybercrime officials said.
When the victim attempted to withdraw his funds, he was asked to pay an additional Rs 51.23 lakh as a release fee, after which he realized he had been cheated and approached the cyber police. Police registered a case and started investigation.
