According to the complaint filed at Gachibowli police station, the victim came across an advertisement on Facebook promoting an online trading platform named “Ubsin”. The ad promised expert investment guidance from a so-called trading coach, “Prof Aditi Sharma.”
After showing interest, the businessman was contacted by a woman named Marry, who introduced herself as a group analyst with UBS Institutional Accounts. She asked him to register on the website www.ubsin.net and later guided him to download a trading app called “UBSIN” from https://www.ubsin.in.net.
Trusting her instructions, the businessman initially transferred ₹50,000 to a bank account under the name Janaki Pradhan at a Nayagarh branch. Over the next few weeks, he made several more payments, eventually transferring ₹53.99 lakh in total to various accounts provided by the accused.
The scammers showed him fake profits on the trading app — displaying a balance of ₹90.72 lakh — to gain his confidence. They later claimed he had been allotted 6,000 shares worth ₹27 lakh in a bank IPO and demanded another ₹5 lakh as commission to release the profits.
When the businessman tried to withdraw his money, the withdrawal option was disabled and the WhatsApp group used for communication was deactivated. Realising he had been cheated, he filed a complaint with the Gachibowli police, who have registered a case and launched an investigation.
Police have urged the public to remain cautious of online trading platforms that promise unusually high returns and to verify the authenticity of such websites before investing.
Tags:
Cybercrime
