Hyderabad, Oct. 1 -- A 65-year-old retired banker from Hyderabad was duped of Rs 98 lakh in a trading app fraud after being lured to make investments.

On Tuesday, September 29, the victim, a PhD scholar in economics, filed a complaint with the Cyberabad police stating that he joined a WhatsApp group, HSL Capital, on July 8 after clicking on a Facebook advertisement about stock market investment.

He said that a woman, identifying herself as Nisha Verma, who claimed to be the secretary to a senior banker, provided him with stock trading tips.

"Using her tips, I traded stocks through my personal demat account and made a profit. On her advice, I downloaded an app, HSL Cap, and started depositing money into different bank accounts of SEBI-a...