DRDO Employee Loses ₹54 Lakh in Fake WhatsApp Investment Scam
Posted:
August 11, 2025
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A Defence Research and Development Organisation (DRDO) employee in Hyderabad has lost ₹54 lakh in a sophisticated online investment scam involving a fake brokerage firm and a deceptive WhatsApp group.
The 39-year-old victim was contacted in May 2025 and added to a WhatsApp group called “ASBPL Start-Up Excellence Circle,” which claimed to represent a Kolkata-based firm, Abhinandan Brokerage Stock Company. The group, consisting of 39 members, shared fabricated profit reports and deposit receipts, enticing the victim with promises of guaranteed returns on an IPO/BLOCK deal.
Between June 9 and July 31, 2025, the victim transferred ₹54 lakh to various bank accounts provided by the fraudsters, even taking out a loan to invest more. The scam was facilitated through a fraudulent app that displayed a fake return of ₹8.42 crore, further convincing the victim of its legitimacy.
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