Hyderabad: Retired banker loses Rs 51 lakh in fake Pre-IPO scam

A 60-year-old retired bank employee from Malakpet lost Rs 51.20 lakh to a fake Pre-IPO investment scam run through Facebook and WhatsApp.

According to Cyberabad Cybercrime Police, the victim saw a Facebook post in the name of IIFL Capital in November 2025. After clicking the link, he started getting WhatsApp messages from a man claiming to be Goshan Yadav from IIFL Capital, who promised high returns and help in getting IPO shares.

The victim was added to a WhatsApp group called “IIFL CS Pre-IPO 067”, where members shared fake screenshots showing big profits and successful IPO allotments. Believing the claims, he first invested Rs 8,000 and then kept adding more money, sending a total of Rs 51.20 lakh by November 25.

ALSO READ | Hyderabad Man Jailed 5 Years for Loan Fraud

The scammers also showed him fake Groww and Tennind share allotments on a manipulated website, making it look like his portfolio had grown to Rs 1.30 crore. But when he tried to withdraw the money, they demanded another Rs 51.23 lakh as a “release fee”. That is when he realized he had been cheated.

Cyberabad Cybercrime Police have warned people to be cautious about online Pre-IPO offers, avoid clicking unknown links, and report suspicious investment schemes immediately.

ALSO READ | Territory Sales Manager Job Opening in Warangal