Hyderabad Police Busted Rs.23 Crores Trading Fraud Case
Hyderabad, Jan 29 (Maxim News): The Hyderabad City Cyber Crime Police uncovered a massive trading fraud linked to cybercriminals operating across India, Nepal, and China.
The investigation revealed that fraudulent transactions totaling Rs. 23 crores had been routed through accounts created and managed by the accused, who are involved in at least 20 cases nationwide.
The arrested are: Shubham Kumar Jha – Deputy Manager, RBL Bank, Vidyaranyapura Branch, Bangalore. 2. Haroon Rasheed Imamuddin Dharawad, alias Haroon Rasheed – Assistant Vice President, Axis Bank, Malleshwaram Branch, Bangalore., 3) R. Mohan – Fabrication Business Owner, Peenya, Bangalore and seized from them 1) Laptop – 01, 2) Mobile Phones – 16 3) Debit & Credit Cards – 38 4) Cheque Books – 32, 5) SIM Cards – 09, 6) Pass Books – 07, 7) Shell Company Stamps – 02, 8) Employee ID Cards – 02
According to the Commissioner of Police, Hyderabad, C.V Anand, the Cyber Crime Police received a complaint from a victim residing in Hyderabad. The victim reported that while browsing Facebook, he was added to a WhatsApp group named “C105.BlackRock Capital Stock Mentoring Group.”
The group admin convinced the victim to invest with promises of daily profits ranging from 10% to 20%. Initially, the victim invested ₹40,000. Subsequently, the fraudsters persuaded the victim to purchase IPOs for greater profits.
Trusting them, the victim invested a total of ₹93,89,000, later realizing it was a scam. A case was registered under Cr. No. 1920/2024, and a detailed investigation was launched.
Under the guidance of DCP Cyber Crimes, Dara Kavitha and under the supervision of ACPs Siva Maruthi, Cyber Crimes the arrests were made by the Cybercrime Police Station team led by Inspector M Seetharamulu, team including SIs & PCs played a crucial role in solving this case. (Maxim News)
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