Hyderabad Businessman Loses ₹1.5 Crore in Betting Scam; Police Warn Public
A Hyderabad businessman faced significant financial loss after falling victim to a sophisticated online betting scam. The fraud, which involved a total of ₹1.5 crore, exemplifies the risks associated with online gambling platforms.
Details of the Betting Scam
The victim lured into this scheme initially received enticing messages on WhatsApp. These messages contained links to an online betting platform that promised substantial profits through various gambling activities such as cricket betting and Teen Patti.
Initial Investment and Trust Building
- The businessman began with a modest investment of ₹20,000.
- He quickly received a return of ₹5,000, reinforcing his belief in the platform.
Encouraged by these quick returns, he was persuaded to invest more substantial amounts over time.
Transfer of Funds
Over a specified period, the businessman transferred a total of ₹1.5 crore through several channels:
- Multiple bank accounts
- UPI IDs
- Cash deposits
Despite seeing inflated profits displayed in his online account, he could never withdraw the funds. Each time he attempted to take out money, he was met with new demands for additional payments, disguised as fees for:
- VIP access
- TDS taxes
- Customer support charges
Rise in Cybercrime
As the businessman realized he had been scammed, he reported the case to the Hyderabad Cyber Crime Police. Authorities have expressed growing concern over such incidents, warning that many scams operate under the guise of legitimate betting platforms.
Public Advisory
The police have issued warnings urging the public to exercise caution:
- Avoid clicking on suspicious links shared through social media or messaging apps.
- Be wary of applications that guarantee unusually high returns.
- Report any instances of cyber fraud by contacting the national helpline at 1930.
Final Thoughts
This incident serves as a crucial reminder of the dangers posed by online betting and gaming platforms. While the allure of quick profits may be tempting, adhering to caution can prevent devastating financial outcomes.
