Wednesday, May 22, 2024
    HomeHyderabadTwo individuals apprehended in Hyderabad for involvement in investment fraud

    Two individuals apprehended in Hyderabad for involvement in investment fraud

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    The Hyderabad cybercrime police have arrested two people from Faridabad in Haryana for cheating the public by promising high returns on investments in the stock market and cryptocurrency. The arrested individuals are Himanshu (30) and Praveen (26). The police confiscated their mobile phones, SIM cards, bank cheque books, and other documents. The suspects would contact their victims through social media platforms and guarantee them substantial profits on small investments. They would then provide a bank account number for the victims to transfer money to. After receiving the money, Himanshu and Praveen would block the victims’ phone numbers and avoid any further contact with them.

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    To carry out their illegal activities, Himanshu forged an Aadhaar card and used it to open a bank account in Delhi. Victims from all over the country transferred a total of Rs 2.5 crore to this account. The police froze the account, which had a deposit of Rs 6 lakh.

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    The suspects’ actions were discovered when a woman from Hyderabad filed a complaint after being cheated out of Rs 4.5 lakh. The police registered a case and caught Himanshu and Praveen in Delhi with the help of a special team. Efforts are currently underway to apprehend Devender Panchal, who is the main suspect in the case and is currently on the run.

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