Telangana Secretariat ASO loses ₹42 lakh in fake IPO investment scam promoted on Instagram
A Telangana government official lost over ₹42 lakh after being targeted by a sophisticated online investment scam. The fraudsters used Instagram ads and fake WhatsApp groups to lure the victim into a fraudulent trading application.
Why it matters
This highlights the growing threat of cyber-enabled financial fraud targeting professionals through social media and fake investment platforms.
A 47-year-old Assistant Section Officer (ASO) at the Telangana Secretariat was allegedly cheated of more than ₹42 lakh after being lured into a fake online IPO and stock trading scheme that was promoted through Instagram advertisements, WhatsApp groups and a fraudulent trading application.
The Hyderabad Cyber Crime Police registered a case following a complaint from the officer that she lost ₹42,01,835 after investing through an application called ‘UP QiB Pro’. The WhatsApp group remains active as of August 3.
According to the complaint, the officer came across an Instagram advertisement promoting online trading and IPO investments. After clicking on it, the victim was added to a WhatsApp group named “85 - Exclusive Group”, where administrators claiming to be investment experts regularly posted stock market tips, IPO opportunities and promises of high returns.
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