Housewife Loses Rs 23.4 Lakh In Trading Scam

A 29-year-old housewife of Hyderabad became a victim of a trading scam through a WhatsApp group named Capital Growth Guild 812F.

She joined the group via her husband's mobile number to learn about trading and earning money from the share market. Group members regularly posted messages and information about buying and selling shares. The scammers operating the group also provided live trading classes to the woman and her husband, with group members frequently posting about their profits, which increased the woman's and her husband's confidence in them.

The scammers eventually posted a form titled "Long Creek Capital" in the trading group, asking for details about the woman's investments. They instructed her to fill out the form and send it back, saying that their team would review it for approval to join their trading app. After seeing many messages from other group members whose applications were ostensibly approved and who claimed to be earning a lot of money, the woman filled out and submitted the form to the group admin.

She was then informed that her application had been approved and asked to download their trading app, TPG-Pm. After completing the registration on it, the scammers guided the woman on how to invest in trading. Within a few days, the woman's funds appeared to grow rapidly as the scammers regularly advised her and her husband on buying and selling shares.

However, when the woman attempted to withdraw from from the app, she was unable to do so due to insufficient balance. She contacted the scammers multiple times, explaining that she needed the money urgently. Eventually the scammers deposited money into the woman's bank account through RTGS from a "Hari Om Textiles", with the condition that she must re-deposit the amount before she could withdraw the full amount. With no other option, the woman re-deposited the money. A few days later, the woman tried to withdraw the funds again but faced the same issue of "insufficient funds". She contacted the scammers, who repeatedly told her to deposit money before she could withdraw the available amount of Rs 23.4 lakh.

Despite her best efforts to reach them via voice and WhatsApp calls, she could not get to speak with the scammers. They only sent messages instructing her to deposit money for withdrawal.

Realizing that she had been a victim of a stock and share market fraud, the woman lodged a complaint against the scammers.