Hyderabad police dismantled a fraud network that used a fake investment platform to steal money from victims across Telangana, arresting suspects linked to schemes that defrauded a local businessman of 77.5 lakh rupees.
Investigators said the gang lured targets with promises of high returns through a fabricated website before siphoning funds. Officers identified multiple victims after tracing financial transactions and digital footprints associated with the operation.
The Goshamahal police station team made arrests following complaints from affected business owners. Cybercrime units assisted in mapping accounts used to receive transferred money. Police urged the public to verify investment platforms through registered regulators before transferring funds.
Similar schemes have proliferated in southern Indian cities as fraudsters exploit social media advertising and messaging apps. Authorities said the case would be expanded as more complainants came forward. Telangana police have intensified crackdowns on digital investment fraud in recent months amid rising complaint volumes.
Hyderabad’s cybercrime police have warned that fraudulent platforms often mimic legitimate brokerage interfaces and use WhatsApp groups to recruit initial investors who later serve as unwitting promoters. The arrested suspects face charges under India’s Information Technology Act and penal code provisions covering cheating and criminal conspiracy. Recovery of diverted funds remains ongoing as banks freeze linked accounts.
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