Cybercrime Police Hyderabad Bust Investment Scam; Two Arrested from Faridabad, Haryana

Cybercrime Police Hyderabad

In a significant breakthrough, the Cybercrime Police in Hyderabad have apprehended two individuals, Himanshu (30) and Praveen (26), hailing from Faridabad in Haryana, for their alleged involvement in a large-scale investment scam. The suspects are accused of duping unsuspecting victims by promising substantial returns on investments in both the stock market and cryptocurrency.

The modus operandi employed by Himanshu and Praveen involved reaching out to potential victims through various social media platforms. Posing as investment experts, they lured individuals with promises of high profits on relatively small investments. Once the victims were convinced, the duo provided a bank account for the transfer of funds, only to sever all contact by blocking the victims’ phone numbers.

Joint Commissioner of Police (Crimes & SIT), A V Ranganath, revealed that Himanshu had created a forged Aadhaar card to open a bank account in Delhi, where a staggering sum of Rs. 2.5 crores was transferred by victims from across the country. The police managed to freeze the account, which contained Rs. 6 lakh at the time of the arrest.

The illicit activities of Himanshu and Praveen came to light after a woman in Hyderabad filed a complaint, claiming she had been defrauded of Rs. 4.5 lakhs. Following the complaint, the Cybercrime Police initiated a thorough investigation and formed a special team. The team successfully located and arrested the suspects in Delhi.

Efforts are currently underway to apprehend another individual, Devender Panchal, believed to be the prime suspect in the case, who is currently at large. The police suspect that Panchal may have played a crucial role in orchestrating the fraudulent scheme alongside Himanshu and Praveen.

The Cybercrime Police have urged the public to exercise caution when approached for investment opportunities, especially through social media platforms, and report any suspicious activities to the authorities. The arrested individuals will be facing charges related to fraud, forgery, and other relevant sections of the law. The police are continuing their efforts to unravel the full extent of the scam and bring all involved parties to justice.

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