Hyderabad: Hyderabad Cyber Crime Police have caught a man in Gurgaon, Haryana for a trading scam. This man was linked to 12 fraud cases across India, with three in Telangana. Police have arrested seven people related to this case so far. Among them is Vineet Chadha, 58, whose IDFC Bank account received Rs 40 lakh. Earlier, six people from Gujarat were arrested, including Viradya Mohitbhai Ghanshyambhai on July 2, Bullan Karpatu Yadav and Rohan Jagadeshbhai Limbachiya on July 4, as well as Kureshi Shafinbhai Yunusbhai, Mer Kishan Kanubai, and Mer Manish Bharatbhai on July 8.
A 62-year-old man from Hyderabad fell for a trading scam after seeing a Facebook ad. The ad led him to a trading site, where he followed WhatsApp instructions to download an app and invest money. He put large sums into bank accounts listed in the app, showing daily profits. Eventually, he invested Rs 2,02,70,931 and actively traded.
When he tried to withdraw his money, scammers demanded more money as “taxes” for processing. They kept messaging him for more deposits. Realizing he was scammed with promises of big returns, he understood he was a victim of an online financial fraud. Cyber Crime officials warn people about online trading scams that promise quick profits.
They urge everyone to verify such offers before sharing financial or personal information. Scammers often use social media like Telegram, WhatsApp, X, Instagram, and Facebook to promote fake investment platforms.
If you’ve been scammed online, call 1930 or visit cybercrime.gov.in for help.
