Hyderabad Woman Duped of Rs. 3.79 Lakh in Online Trading Scam; Two Held in Cyber Fraud Case
Hyderabad, July 5 (Maxim News): In yet another case of online trading fraud, the Hyderabad Cybercrime Police have arrested two individuals for allegedly duping a 52-year-old woman of ₹3.79 lakh under the guise of offering high returns through a fake online trading platform.
The arrested accused have been identified as L. Anand Reddy and E. Laxma Reddy, who along with their associates, posted deceptive advertisements on popular online platforms promoting an online trading business promising massive profits.
According to officials, the victim came across the ad and was subsequently added to a WhatsApp group created by the fraudsters.
“They lured her into investing in online trading by making attractive promises of large profits. Trusting them, the woman transferred nearly ₹3.79 lakh to different bank accounts,” said a cybercrime official.
Once the money was transferred, the victim quickly realized she had been cheated when no returns were received and communication ceased.
Upon receiving her complaint, the Cybercrime police launched an investigation, traced the suspects through digital forensics, and arrested Anand and Laxma. The duo’s role was crucial as they allegedly provided bank accounts to route the fraudulently collected money.
“They helped the key fraudsters in executing the scam by supplying bank accounts and facilitating fund transfers,” added police sources.
Efforts are currently underway to trace and arrest the main culprits and others involved in the cybercrime network.
The police have once again urged citizens to remain cautious about online investment schemes, particularly those that guarantee unrealistic profits.
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