Hyderabad Man Loses Rs 2.5 Lakh in QNet Investment Scam via WhatsApp
A 25-year-old private employee from Alwal, Hyderabad, has filed a complaint with the Malkajgiri cybercrime police, alleging that he was cheated of over Rs 2.5 lakh by fraudsters operating an investment app under the name ‘QNet’. The victim reported the incident on Monday, detailing how he was lured into the scheme through WhatsApp messages.
How the Scam Unfolded
According to the complainant, the fraud began on January 3 when an unknown individual posing as Manami Sandel sent him a WhatsApp message. The message offered guaranteed high returns and added him to a WhatsApp group titled ‘Dinesh's108’. Administrators of the group then advised him to download the QNet app for an online products trading opportunity.
After registering on the app, the fraudsters contacted him personally, encouraging investments with promises of high and guaranteed returns at minimal risk. They explained that various products would be available on the app, and if others purchased them through his ID, he would receive commissions on those sales. To make the scheme appear legitimate, the scammers conducted Zoom meetings and provided training for 21 days.
Escalation of the Fraud
The fraudsters initially demanded an investment of Rs 5 lakh through the app to book a position for buying and selling products. When the victim could not arrange the full amount, they accepted Rs 2.5 lakh and subsequently pressured him to recruit more investors. Sensing that the scheme was fraudulent, the victim approached the Malkajgiri cybercrime police, leading to the registration of a case.
Legal Action Taken
A case has been registered under multiple sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act. The charges include:
- Sections 316(2): Criminal conspiracy
- Sections 319(2): Cheating by personation
- Sections 318(4): Cheating
- Section 338: Forgery of valuable security, will, etc.
- Sections 66C and 66D of the IT Act: Identity theft and cheating by personation using computer resource
The police are investigating the matter against unknown accused, highlighting the growing threat of online investment scams in urban areas like Hyderabad.
