Man arrested for cheating senior citizen in online trading in Hyderabad

The complainant received a message on his social media account from the suspect claiming to be an investor offering assistance with financial trading.

Hyderabad: The Hyderabad Cybercrime police on Wednesday arrested P Uma Mahesh (33) from Palnadu in Andhra Pradesh on charges of cheating a senior citizen to the tune of Rs 43.3 lakh promising good returns in online trading.

The complainant received a message on his social media account from the suspect claiming to be an investor offering assistance with financial trading.

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Following the fraudster’s suggestion, the complainant initially transferred Rs 40,000 as his first investment. He was allowed to withdraw a portion of the profits, which led him to believe the process was genuine.

Police said the victim was subsequently asked to invest further on the pretext of VIP membership, etc. He deposited money in different bank accounts in varying amounts. In total, the victim deposited a sum of Rs 43.3 lakh.

Uma Mahesh contacted his targets through social media platforms and proposed plans for trading with huge profits. Once the victims fall into his trap, Mahesh collected money from them and went absconding, police officials said.

He is involved in 8 cases across India, including 3 in Telangana.