Jun 14
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Hyderabad Brothers Lose Over ₹1 Crore in Stock Market Investment Scam
Hyderabad: The Hyderabad Cybercrime Police have registered two separate cases after two brothers in their 40s reported losing more than ₹1.08 crore in a sophisticated stock market investment scam.
As per their complaints, the siblings were added to a WhatsApp group named “Moving Forward” between September and November 2025. The group was allegedly managed by individuals identifying themselves as V. Ramaswamy and Meera Joshi, who portrayed the platform as an exclusive high–net-worth investment community.
The victims were instructed to open trading accounts on an app called “EdelHNW+” using links circulated within the group. They were then pressured to transfer money into various bank accounts within minutes of each request, under the guise of participating in premium IPO allotments and special trading opportunities.
Believing the scheme to be legitimate, Srikanth transferred ₹73 lakh between October 26 and November 26, while Sarath Chandra deposited ₹35.2 lakh between November 10 and 24. The fraudsters even fabricated a ₹28 lakh “margin loan” and subsequently blocked their withdrawal options until the supposed loan was repaid.
When multiple requests to release their funds went unanswered, the brothers noticed that several other supposed “investors” had been quietly removed from the group. Realising they had been cheated, they approached the police.
Cybercrime officials have filed two FIRs under relevant sections of the Information Technology Act and the Bharatiya Nyaya Sanhita (BNS). An investigation is underway to trace the culprits and follow the money trail.