Hyderabad, Dec. 5 -- In another incident of fake trading app scams, a 63-year-old retired employee from Nallakunta was duped of Rs 29.5 lakhs by scamsters impersonating as an investment company.

In early November, a person named Divya Mehra added the victim to a WhatsApp group called "India Nivesh Shares & Securities Ltd," claiming to be a trading group.

She then persuaded him to share his bank and PAN details and install a fake trading app, NivPro, to invest in shares, OTC trades, and IPOs.

The victim then transferred large sums of money from his and his wife's account for 'trading.'

Divya Mehra deceived the victim by showing fake high profits and pressured him to invest more, even coercing him to purchase an IPO of Excelsoft Technol...