Hyderabad Cybercrime police help victim recover Rs 1.05 Cr in fraud case

A 52-year-old victim fell victim to fraudsters posing as stock brokers from the firm 'Lazardoovip.Top,' who lured him into online trading with promises of significant profits. He ended up transferring Rs. 1.22 crore to various bank accounts, only to later realize he had been conned.

Hyderabad: In a swift action, the Hyderabad cybercrime police enabled a victim of cyber fraud to recoup funds to the tune of Rs 1.05 crore.

The victim aged 52 years was deceived on the pretext of online trading by fraudsters who claimed to be stock brokers working for a firm‘Lazardoovip.Top’. The man was assured huge profits and was conned into transferring Rs. 1.22 crore to various bank accounts. He later realized that fraudsters had successfully duped him.

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On a complaint, the police registered a case and promptly informed bank authorities who freezed the fraudulent bank accounts. After the court process, an amount of Rs. 1.05 crore that was freezed was realized and reverted back to the victim’s bank account.