Hyderabad: Man arrested for Rs 4.36 crore stock trading scam

The Special Zonal Crime Team of Hyderabad arrested N Karthik for running a fake stock-trading firm, Explore Technologies, duping multiple investors of Rs 4.36 crore. Promising high returns, Karthik absconded after receiving funds. Investigations reveal widespread fraud, and the case is ongoing

Hyderabad: The Special Zonal Crime Team (SZCT) of the Detective Department arrested a private employee who allegedly cheated several investors through a fake stock-trading scheme.

The suspect, N Karthik (43) of Vidya Nagar, is accused of running an unregistered firm, Explore Technologies, and luring victims with promises of 6 per cent assured monthly returns and 10–20 per cent profits.

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According to the police, a retired associate professor alone invested Rs 1.35 crore after the suspect falsely claimed to be a Data Science Manager at Ernst & Young.

Karthik later stopped payments and went absconding. Investigation revealed he had similarly cheated multiple people, causing a total loss of about Rs 4.36 crore.

A case was booked and being investigated.

Three drug peddlers held with 41.9 kg contraband

Hyderabad: The Kollur Police arrested three drug peddlers at Tellapur and seized 41.9 kgs of the contraband from them on Sunday.

The arrested persons are Mithun Barman (36), Suden Roy (25) and Rejaul Shaik (30). They were caught while attempting to sell ganja in small quantities to labourers working in nearby camps.

According to officials, the trio had been procuring the contraband from an absconding supplier, Tapan Biswas, a native of West Bengal currently residing in Tellapur.

He is believed to be the main source facilitating the supply of ganja to local labour camps for easy profit.

A case has been registered, and efforts are underway to trace and arrest the absconding suspects.