A retired man was tricked into losing money in a trading fraud.

In an online trading scam, fraudsters posing as an international trading platform defrauded a 68-year-old Secunderabad retiree out of ₹61.95 lakh.

A retired man was tricked into losing money in a trading fraud.

The scam began on March 27, when the victim made an initial investment of ₹21,000 after discovering a website operated by a firm identifying itself as Experts Pro Ltd. Shortly after the first investment, a representative of the platform began contacting the victim regularly. Presenting himself as a trading expert, the scamster offered insights on market trends and assured the victim of high returns. Being a novice in stock trading, the victim placed his trust on the scamster and followed his advice closely.

With excuses like "margin levels falling below sustenance," the scammer persisted in urging the victim to make additional investments. Even when the account seemed to show significant earnings, the scammers refused to permit any withdrawals despite the victim's repeated requests, in which he made it plain that he was not looking for profit but rather wanted to leave and get his money back.

Due to emotional pressure and difficulties organizing finances, the victim kept sending money throughout the ensuing weeks. By May, he had spent all of his money. The victim told the fraudster that he would be inaccessible for a few days on May 21 while traveling with family. The con artist promised to handle the account while he was away.

But on the way home, the victim started getting calls from the same person over and over again. After responding, he was informed that the margin levels had sharply decreased and that he was under pressure to pay ₹10 lakh immediately. When the victim paused, a different voice—possibly belonging to another scammer—took over the phone and increased the pressure. After a heated argument, the victim declined to send additional funds. After this encounter, the victim stopped answering calls, but the scammers were far from finished. A few days later, he received a call from someone else who claimed to be a recovery agency who could assist in recovering the missing money and demanded a new investment. The victim has been getting several unwanted calls every day ever since.

The trading platform still displays a USD 75,000 account balance as of right now, but every withdrawal attempt has been rejected. The fraud cycle is maintained by the con artists' insistence that further payments are necessary in order to "unlock" the earnings. The Hyderabad police's Cyber Crime Wing opened an inquiry after the victim filed a complaint.

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