Hyderabad, Nov. 29 (Maxim News): Hyderabad Cyber Crime Police arrested two fraudsters from Vashi, Navi Mumbai, in a ₹12.3 lakh online trading scam. The arrests happened in Cr. No. 1663/2025 under Sections 66C and 66D of the IT Act.
Police also invoked Sections 318(4), 319(2), 336(3), 338, 340(2) of the BNS. The accused, A1 Ravi Kumar Lal and A2 Shivendra Ashok Singh, connect to 12 cyber-fraud cases across India. Two of those cases occurred in Telangana. Therefore, this bust helps curb a wider network.
Ravi Kumar Lal, 38 years old, runs a real estate business. He hails from East Delhi but lives in Vashi, Navi Mumbai now. He helped operate a Bank of Baroda account.
Lal shared OTPs with an absconding associate named Viraj from Pune. He used an APK file for this.
Meanwhile, Shivendra Ashok Singh, 32 years old, is a businessman from Vashi. Singh opened mule bank accounts and supplied them to Lal.
Investigation showed Singh provided the accounts, while Lal managed them. Police seized 4 mobile phones and 3 cheque books from them.
A 53-year-old Hyderabad resident lost ₹12,30,000 to the scam. Fraudsters used fake names like Flames Alliance and Munoth Capital Investment Limited.
They ran a bogus trading platform called AEGIS at aegiscapcorp.vip/stock. Scammers posed as investment experts on WhatsApp. They showed fake profits first.
Then, they allowed small withdrawals to build trust. Later, they blocked the victim after taking funds from 13 to 28 August 2025. However, quick police action led to these arrests.
Police urge citizens to stay alert. Avoid online trading schemes with high returns promises. Do not share personal or banking details with strangers. Also, never let others use your bank account. Mule accounts fuel cybercrime. Victims should dial 1930 right away.
They can also report at cybercrime.gov.in. Therefore, awareness helps prevent such frauds. Meanwhile, authorities continue hunting the absconding suspect Viraj. (Maxim News)
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