Hyderabad: Cyber criminals continue to target unsuspecting individuals, siphoning off huge sums of money through online frauds. In a recent incident, Urmila, wife of former Joint Director and former IPS officer V.V. Lakshmi Narayana, was allegedly cheated of ₹2.58 crore under the guise of stock market investments. Based on her complaint, the cyber crime police registered a case and initiated an investigation.
According to police, Urmila received a message from an unknown number in the last week of November last year, promising high returns in a short period through stock market investments. Trusting the offer, she was later added on November 29 to a WhatsApp group titled “Stock Market Profit Guide Exchange 20,” where a person identifying himself as Dinesh Singh claimed to be an IIT Mumbai graduate with a PhD from the US and projected himself as a stock market expert.
Investigators said the accused conducted online trading sessions, recommended stocks, and shared screenshots claiming profits of up to 500 percent. He also convinced members that investments were being made through a SEBI-recognized brokerage firm. Between December 24, 2025, and January 5, Urmila allegedly transferred ₹2.58 crore in 19 installments to a trading account and also mortgaged gold to raise additional funds.
Although profits appeared in the trading account, there was no option to withdraw the amount. The accused reportedly threatened that failure to invest more would result in the loss of the invested money. Realizing the fraud, Urmila approached the cyber crime police. Officials stated that the money was routed through mule accounts and efforts are underway to trace the accused and recover the funds.