Hyderabad Cybercrime Police arrested two men from Gujarat for duping a city resident of Rs 32 lakh through a fake trading app. The accused, including a former Ranji player, are linked to 12 similar fraud cases across multiple States
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Hyderabad: The Hyderabad Cybercrime Police arrested two men from Gujarat on charges of duping a city resident to the tune of Rs 32 lakh through a fake online trading scheme.
The suspects identified as Inamdar Vinayaka Rajendar (25) and Rishi Thushar Arothe (30) lured the victim via a WhatsApp group posing as an Aditya Birla stock advisory.
Police said the duo had convinced the victim to download a fraudulent trading app, invest in shares and IPOs, and later blocked withdrawals while demanding more deposits.
Rajendar supplied multiple bank accounts to the fraudsters, while Arothe, a former Ranji player, diverted funds by converting them into cryptocurrency through e-wallets.
The duo is also linked to 12 similar cases across India, including in Telangana, Maharashtra, Karnataka, and West Bengal.
Investigation is under progress.
