Andhra Pradesh: Hyderabad Police bust fake call centre, five arrested

The Hyderabad Police said it has busted a fake Call centre in neighbouring Andhra Pradesh and arrested five persons for allegedly cheating many aspiring stock traders.

Hyderabad: A five member gang who were allegedly duping people on pretext of huge profits through investments in share market was arrested by the Hyderabad police on Wednesday. The police seized 31 laptops and six mobile phones from them.

The arrested persons are Tippannagari Sai Saran Kumar Reddy, Kotholla Mahesh, Redddivari Haribabu Yadav, Korru Ajit and Madiga Diwakar.

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DCP (Cybercrimes) Sneha Mehra said Sai Saran Kumar started a company Integear Consultancy Private Limited and started contacting gullible people on pretext offering tips on share market investment. He did not obtain necessary permissions from the department concerned.

Sai Saran to run his business hired 38 women to contact people and lure them into investing money in the stock trading business. The gang set up a call centre at Chittoor district in Andhra Pradesh and obtained the data of people interested in online share market trade from different sources and started contacting them.

“Initially, the executives offered few tips that helped people earn some money in the trading. After gaining confidence of their clients they asked them to transfer money to some bank accounts and assured that the amount will be invested in share market by professionals to get higher profits,” said the official.

After collecting money the gang members switched off their mobile phones. “So far, we have come to know that the gang duped around 140 persons to the tune of Rs. 1.08 crores,” said Sneha Mehra.

The police produced the arrested persons before the court and remanded.