Hyderabad: One more person arrested in investment fraud case

Hyderabad: The Cybercrime police on Tuesday arrested a person, Imran for his alleged involvement in the investment fraud scam. Imran, a native of Mumbai had obtained bank accounts from three persons Syed Sultan, Mirza Nadeem Baig and Parvez after paying them money and handed the account credentials to the masterminds of the investment fraud. Initially, […]

Hyderabad: The Cybercrime police on Tuesday arrested a person, Imran for his alleged involvement in the investment fraud scam.

Imran, a native of Mumbai had obtained bank accounts from three persons Syed Sultan, Mirza Nadeem Baig and Parvez after paying them money and handed the account credentials to the masterminds of the investment fraud. Initially, the police suspected that Imran is hiding in Dubai where he temporary stays. However, the police found him in Mumbai and arrested him on Tuesday.

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The Hyderabad police on October 12 had arrested ten persons including a China national and a Taiwan national in an investment fraud. The police officials pegged the scam to be around Rs. 903 crore while it is estimated that it is running into thousands of crores.