Hyderabad, Nov 25 (Maxim News): The Special Zonal Crime Team (SZCT) of the Detective Department arrested a private employee who allegedly cheated several investors through a fake stock-trading scheme.
The suspect, N Karthik (43) of Vidya Nagar, is accused of running an unregistered firm, Explore Technologies, and luring victims with promises of 6 per cent assured monthly returns and 10–20 per cent profits.
According to the police, a retired associate professor alone invested Rs 1.35 crore after the suspect falsely claimed to be a Data Science Manager at Ernst & Young.
Karthik later stopped payments and went absconding. Investigation revealed he had similarly cheated multiple people, causing a total loss of about Rs 4.36 crore.
A case was booked and being investigated. (Maxim News)
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