Hyderabad: The Cyber Crime police in Hyderabad arrested two men from Gujarat for stock trading fraud. They allegedly scammed a victim out of over Rs 67 lakh.
The suspects are Mehulbhai Devrajbhai Ramani (37), an account supplier, and Gondaliya Hardik Kumar Mukeshbhai (26), an account holder. Police seized Rs 1 lakh in cash from them.
A 57-year-old private employee in Hyderabad was targeted through WhatsApp messages offering stock tips. He joined a group called “SMC 912” and was advised by a supposed customer care representative. Trusting them, he deposited Rs 67,60,049.
The police filed a case under various sections of the IT Act and Bharatiya Nyaya Sanhita (BNS).
The accused contacted victims via WhatsApp, pretending to be stock advisors. They used ‘mule’ accounts to collect money for fake trading. After receiving funds, they blocked victims and stopped communication.
The Cyber Crime department warns against fake investment schemes on platforms like Telegram, WhatsApp, X, Instagram, and Facebook. They advise against trusting promises of high returns or fake profit screenshots.
People should avoid scams by using SEBI-approved apps and consulting SEBI-registered advisors.
Report suspicious transactions immediately. If you notice unauthorized activity, contact your bank right away.
If you fall victim to cyber fraud, call 1930 or report it on www.cybercrime.gov.in.
