Ex-CBI Director JD Lakshminarayana’s Wife Duped of Rs 2.58 Crore in Stock Market Scam

Cyber fraudsters allegedly cheated the wife of Ex- CBI Director JD Lakshminarayana of Rs 2.58 crore after luring her with promises of high returns through stock market investments. The fraud was executed via a messaging app-based group and a fake trading platform/app, sparking concern over the rising number of digital investment scams. Acting on the victim’s complaint, the Hyderabad Cyber Crime Police registered a case on January 6 and launched an investigation.

According to police and the complaint, the victim reportedly a 51-year-old resident of Banjara Hills received an unsolicited invitation on WhatsApp in November 2025, which promised “quick profits” through share market trading. Her husband later joined a WhatsApp group named “Stock Market Profit Guide Exchange Group 20” , which reportedly had over 160 members . The group operated like an investment coaching forum, where “trainers” regularly shared market tips, conducted online sessions and encouraged members to invest larger amounts, gradually building trust.

Investigators said the scam revolved around a suspicious investment platform/app called “MCKIEY CM” , which the accused promoted as a SEBI-authorised trading platform. To gain credibility, the organisers allegedly circulated SEBI registration certificates and other documents in the group. Police are expected to verify the authenticity of these SEBI certificates and confirm whether the entity exists in SEBI’s official database, as cyber fraudsters often use forged or misleading certificates to trap investors.

Following the instructions provided in the group, the victim began transferring funds into multiple bank accounts shared by the fraudsters. The complaint stated that the accused frequently provided different bank current account numbers , with money being routed to accounts in different states. She also reportedly raised funds through gold loans taken in her name as well as her husband’s name, and continued depositing money based on repeated assurances of high returns.

Police sources said that between December 24, 2025 and January 5, 2026 , the victim transferred money in multiple instalments, while the fraudsters persistently pressured her to invest more especially in the name of IPO participation , claiming it would yield extraordinary profits. The total amount lost reportedly stood at Rs 2.58 crore , making it one of the high-value cyber fraud cases reported in the city recently.

Suspicion deepened when she attempted to withdraw her money. On January 5 , she reportedly managed to withdraw Rs 10 lakh , but the amount was credited as multiple smaller transactions , which raised red flags. When she tried to recover the remaining funds, the fraudsters allegedly continued to demand additional deposits, prompting her to approach the cyber crime police for immediate intervention.

The Hyderabad Cyber Crime Police have registered an FIR under provisions of the Information Technology Act and relevant sections of the Bharatiya Nyaya Sanhita (BNS) relating to cheating, impersonation and cyber fraud . Investigators are now tracing the beneficiary bank accounts , identifying the persons operating the platform, and following the money trail to pinpoint where the funds were routed. Officials typically attempt to freeze suspicious accounts in such cases to improve chances of recovery, though the extent of recovery depends on whether the money was quickly withdrawn or transferred further.

Police and regulators have once again warned citizens against joining investment groups operating through WhatsApp/Telegram/social media , particularly those promising “guaranteed” or unusually high returns. Investors have been advised to verify all broker and platform claims only through official sources, avoid transferring money to unknown bank accounts, and report suspicious trading apps or groups immediately to cyber crime authorities, as early reporting increases the chances of account freezing and fund recovery .