Hyderabad: Two victims of trading and online investment frauds lost more than Rs 50 lakh in two separate cases in Hyderabad, police said on Sunday.

In online gold stocks trading fraud, a person was cheated to the tune of Rs 6.32 lakh while another citizen lost Rs 43 lakh in online investment fraud.

A 57-year-old resident of Himayathnagar was cheated by an online trading platform called NFM Capital Markets through an agent named Amrutha Reddy, who first contacted the victim via Facebook and WhatsApp.

She convinced him to invest in ‘US Gold Stocks’ using a fake trading dashboard showing fabricated profits.

The victim made transactions totaling Rs 6,32,000 through Google Pay and SBI YONO, believing the fake wallet balance of $38,694.94 was genuine.

Later, the fraudsters demanded more mo

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