Hyderabad police arrest two from Mumbai in Rs 23.48 lakh online investment fraud

Hyderabad Cybercrime Police arrested two men from Mumbai for cheating a woman of ₹23.48 lakh through a fake online investment scheme. The accused lured her via a WhatsApp group and used a fraudulent trading app to steal the money.

Hyderabad: The Hyderabad Cybercrime Police have arrested two men from Mumbai for their role in an online investment fraud in which a woman was cheated of Rs 23.48 lakh.

The arrested persons were identified as Dharmesh Jaswantbhai Barot alias Lali (35) and Mohd Shahid Hanif Ansari (38).

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Police said the complainant was lured into a WhatsApp group posing as a stock trading forum and later induced to invest in fake ‘Block Deals’ through a fraudulent trading application.

“After initially allowing small withdrawals to gain trust, the accused froze the entire investment under the false claim of a settlement period,” officials said.

Investigations revealed that the fraudsters used fake trading dashboards and routed the stolen money through multiple bank accounts obtained from drivers and other individuals.

Victims of financial cyber fraud have been urged to immediately call the cybercrime helpline 1930.