Hyderabad Cybercrime Police nab 22-year-old from Navi Mumbai for investment fraud of Rs 2.43 crore

A 56-year-old victim from Hyderabad was duped by the fraudsters

Hyderabad: Hyderabad Cybercrime Police have apprehended a 22 year-old suspect from Navi Mumbai, Maharashtra for his involvement in an investment fraud totaling around Rs 2.43 crore.

According to the police, a 56-year-old victim from Hyderabad was referred to Samco Securities application & IIFL application by social media in which he downloaded and logged into the applications and invested the money.

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Initially he had invested in small amounts in different bank accounts provided in the application for which they showed some profit every day. The victim was told that he would receive the profits into his application wallet and the same could be withdrawn in to his personal bank account which will take one to three days.

Believing the assurances to be genuine, he deposited amount multiple times totalling to Rs 2,43,95,000 but later realised that the cyber fraudsters have stopped the withdrawal process.

Based on his complaint a case was registered and Rashmit Rajendra Patil, a private employee from Navi Mumbai, who was found to be an account supplier, was apprehended.

The police team headed by the Inspector P Pramod Kumar along with SI Sheik Azeez, and comprising PC’s M Prashuram, E Vijay Kumar, K Ashwin Kumar, Ch Venugopal, C Srinivas, P Ramanjaneya Prasad cracked the case.