Who were the fraudsters that targeted the Patancheru businessman?

The fraudsters posed as Lavanya Dasari and her friend Arpitha, claiming to be employees of a reputed brokerage backed by Lavanya's UK-based uncle.

How did the Patancheru businessman lose the 4.8 crore?

The businessman was lured to trade on a fake website, etoroglofx.com, by the fraudsters, who promised triple returns. Over six weeks, the victim transferred 4.89 crore to multiple accounts before realizing he had been scammed.

Home / Crime and Justice / Businessman Loses 4.8 Crore in Fake Stock Trading Scam

Businessman Loses 4.8 Crore in Fake Stock Trading Scam

Q: What happened to the Patancheru businessman?

The Patancheru businessman was duped of over 4.8 crore through a fake international stock trading platform.

7 Nov

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Summary

41-year-old businessman duped of over 4.8 crore
Fraudsters posed as brokerage employees, lured victim to fake trading site
Victim transferred massive funds over 6 weeks before realizing the scam

Businessman Loses 4.8 Crore in Fake Stock Trading Scam

On 2025-11-07T12:20:37+00:00, the Telangana Cyber Security Bureau (TGCSB) registered a cheating case and launched an investigation after a 41-year-old businessman from Patancheru alleged he was duped of over 4.8 crore through a fake international stock trading platform.

The complainant, a resident of Muthangi village in Patancheru, had received WhatsApp messages from two fraudsters posing as Lavanya Dasari and her friend Arpitha in early September. Claiming to be employees of a reputed brokerage backed by Lavanya's UK-based uncle, the duo urged the victim to trade on a fake site, etoroglofx.com, promising triple returns and assured guidance.

Trusting the pitch, the victim first transferred 50,000 via UPI to a bank account provided by the accused on September 21. The site immediately displayed a 15% gain, after which the women credited 15,400 to his account to build confidence. Over the next six weeks, the victim transferred a staggering 4.89 crore from his two bank accounts to 12 beneficiary accounts located across Bihar, Rajasthan, Uttar Pradesh and Maharashtra.